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July 22, 2018

Our strongest ever quarterly financial results

In July 2018, we proudly reported our highest ever quarterly operating profit of SEK4.2 billion for the second quarter of 2018; an increase of 28.6 per cent compared with the same period in 2017, driven by a strong increase in global retail sales.

Our record sales for the first half of 2018 amounted to 317,639 cars, an increase of 14.4 per cent compared to the same period in 2017.


 

Håkan Samuelsson, president and CEO of Volvo Cars, and Hans Oscarsson, CFO of Volvo Cars, spoke at a press Conference in Stockholm, and discussed the results.

Steady growth during the six-month period

All the key regions of the US, China and Europe reported steady growth during the six-month period. 

The US grew 39.6 per cent on the back of the bestselling XC60 and XC90. Overall volumes in the first half of the year were 47,622 compared to 34,102 in the same period in 2017.
China, Volvo Cars’ largest single market, grew by 18.4 per cent on strong demand for the locally-produced XC60 and S90. During the period, sales hit 61,480 compared to 51,914 in the corresponding period in 2017.

Europe reported solid 5.7 per cent growth in the first half to 164,480 cars, compared to 155,653 in the same period in 2017, driven by demand for the new XC60, the 90 Series cars and the new XC40 small SUV.

Globally, our new Volvo XC60 continued to be the best-selling model in the first half of the year with 88,786 units sold (2017: 829 units), followed by the XC90 with total volumes at 47,658 units (40,186 units) and the Volvo V40/V40 Cross Country at 41,588 units (48,554 units). During the first half, the S90 generated volumes of 30,977 units (17,346 units). 
The popularity of our XC40 continued during the period with the compact SUV recording total volumes of 23,741 units in the first six months.