Update: Volvo Auto India sales figures are revised as the previous numbers provided by the company were incorrect. Volvo Auto India reports annual sales for 2014 at 1202 units, up from 913 units sold in 2013, equating to 31.65% sales growth. In 2012, VAI sold 821 cars. December marked Volvo’s 18th month of consecutive sales increase, with China and Western Europe contributing significantly. Hakan Samuelsson, president and chief executive says 2014 has been a good year, and sales underline strong performance, as the company stays profitable and intends to stay profitable. Sustainable growth is a focus area, and Volvo expects this growth to continue in 2015 in all markets.
Volvo Cars’ global transformation emphasises on global industrial footprint, and renewal of product range over the next 5 years, introduction of a new modular chassis technology, world first safety tech, new design language, powertrain architecture and a range of connectivity services.
Sweden, UK and Germany were key growth drivers in Europe during 2014 with growth reported at 17.4%, 25.5% and 18.3%, respectively. Western Europe, including Sweden, grew 11.4%. Drive-E powertrains have played an important role.
Volvo Cars grew faster than overall car market in China in 2014 at 32.8% to 81,221 cars (more than double the growth of the market). 3 new manufacturing plants, growing dealership network and continuous expansion of the product pave the way for continued momentum for Volvo Cars in the Chinese market. In US, Volvo sold 56,371 cars.