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Volvo sales boosted by China

Volvo sales figures have rocketed in Asia with a resounding impact on the automaker’s global sales

Volvo C30

Volvo C30 Image: Volvo

The Chinese-owned marque, reported an 82% growth in the Chinese market for the month of May, selling a total of 4,019 cars. The surge also managed to push global sales figures for the month 42% higher than the same time last year, at close to 41, 500 units.

The latest figures promote China to the world's third largest market for Volvo, behind the US and the company’s home country Sweden, where sales also increased by 58% and 44% respectively. Global sales for May reached almost 186,000 units, a 20% year-on-year uplift.

Volvo accredits much of its to success to its partnership with Zhejiang Geely Holding Group, which bought the Swedish brand in 2009, the first time a Chinese car maker had acquired an international car brand.

Volvo President and CEO Stefan Jacoby told Xinhua News Agency that they would be building new plants in China, with new people and all new products. The Chinese produced models are set to be as technologically advanced as their European counterparts.

Amongst other manufacturers, GM saw China sales dip by 2.7% in May, although Buick, Chevrolet and Cadillac sales were up year-on-year, but Ford recieved a 14% boost in sales revenue thanks to a 33% uplifed in its Focus compact car during the month.  Mercedes also saw a significant improvement, with a 43% increase in sales for the month, lifting the luxury car maker's volume to almost 76,000 units for the first five months of 2001, a 62% increase on 2010.

Tags: Chevrolet, China, Corporate News, Ford, GM, OEM and automotive, Volvo

Published 16th June, 2011

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