Volvo has moved into top 3 position in the ultra- competitive luxury car segment after a strong performance in February.
According to national sales data released by VFACTs, Volvo sold 854 cars in February to clinch third place behind European rivals Mercedes Benz and BMW.
Volvo's elevation was driven by the popularity of its award-winning XC40 and XC60 luxury SUVs which were ranked first and fourth respectively in their segments in February.
Volvo XC40 had another stellar month in February, with nearly 500 cars being sold, which was 40% more than its nearest rival in the small luxury SUV segment. Volvo XC60 missed out on clinching third place in the medium luxury SUV segment by a wafer thin four sales.
"February was another positive month for Volvo in a segment that was down by 27% overall," said Volvo Car Australia Managing Director, Stephen Connor.
"We are on track to have another year of significant growth and have secured enough production to meet the demands of our customers and continue the growth of the brand."
"Volvo has been the fastest growing luxury car brand in Australia of late and achieving a top 3 position in February reinforces our credentials as the brand on the rise" Stephen Connor concluded."
ENDS
Volvo Cars in 2021
Volvo Car Group recorded an operating profit of 20.3 BSEK. Revenue in 2021 amounted to 282.0 BSEK, while global sales reached 698,700 cars.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker "VOLCAR B".
Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
As of December 2021, Volvo Cars employed approximately 41,000 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg, Camarillo (US) and Shanghai (China