Swedish prestige car maker Volvo notched up its most ever sales during 2016, reinforcing its
status as one of Australia's fastest growing luxury car brands.
National sales data released by VFACTs show Volvo sold 5,878 cars in 2016, which was
nearly a 19% increase on the previous year. Volvo's record sales were boosted by a 176%
increase in sales of Volvo's flagship XC90 luxury seven-seater SUV. Volvo also achieved a
24% increase in sales of its mid-sized SUV, the XC60.
"Our record Australian sales in 2016 underlines the sustained sales growth we have achieved
over the past 18 months," said Kevin McCann, Managing Director of Volvo Car Australia.
"We are particularly pleased to have recorded exceptionally strong sales for the award-winning
Volvo XC90 luxury SUV during 2016. The luxury SUV segment is very competitive, and a
176% increase in sales of XC90 is a fantastic achievement. The XC90 has set the benchmark
in the luxury 7-seater SUV category since it was launched in 2015".
"Globally, Volvo has repositioned itself as a luxury European car brand, and it is very gratifying
to see Australian car buyers respond to this with record sales".
Volvo's record sales in Australia mirrors strong growth globally, with the Volvo Group reporting
a third consecutive year of record sales in 2016, increasing 6.2 per cent compared to 2015, to
534,332 cars sold.
For the 2015 financial year, Volvo Car Group recorded an operating profit of 6,620 MSEK (2,128 MSEK in 2014).
Revenue over the period amounted to 164,043 MSEK (137,590 MSEK). For the full year 2015, global sales
reached a record 503,127 cars, an increase of 8 per cent versus 2014. The record sales and operating profit
cleared the way for Volvo Car Group to continue investing in its global transformation plan.
About Volvo Car Group
Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car
brands in the world with sales of 503,127 in 2015 in about 100 countries. Volvo Cars has been under the
ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It formed part of the Swedish
Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars
was acquired by Geely Holding.
As of December 2015, Volvo Cars had almost 29,000 employees worldwide. Volvo Cars head office, product
development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars
head office for China is located in Shanghai. The company's main car production plants are located in
Gothenburg (Sweden), Ghent (Belgium), Chengdu and Daqing (China), while engines are manufactured in
Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).