Volvo Cars recorded a 7.3 per cent year-on-year growth in the January-June period of 2019 with 3,40,286 units, said the Swedish luxury automaker, adding this was its best first half-year sales performance in history.
The firm claimed to have gained market share across the US, China and Europe, with the UK and Germany recording a growth of 30 per cent and 32 per cent respectively. The overall passenger car market in the US declined by 2 per cent in the first half, while China and Europe fell by 9.3 per cent, and 3.1 per cent respectively in the same period.
Volvo Cars recorded 11 per cent growth selling 1,159 units as against 1,044 units sold in India during the same period a year ago. “At a time when most markets in the world see stagnating car sales, we had strong growth in the first half,” said Hakan Samuelsson, president and chief executive, Volvo Cars.
He further emphasised that the firm has prioritised growth and market share during the period, capitalising on building momentum for Volvo. It recorded a revenue of SEK 130.1 billion (1SEK = around `7.36) in the first six months of 2019 against SEK 122.9 billion a year ago.