Geely's Volvo Cars reported a new record in global annual sales as 2018 volume rose 13.5% year on year to 582,096 cars for the January-to-November period, compared with 513,055 last year.
With a month of the year still to go, the automaker has already beaten 2017's full year record of 571,577 cars. In November, the company sold 56,034 cars, up 8.3%.
SUV sales – with the XC40 newly added – boosted the result with growth across all main regions driven in particular by XC60 and XC40 which reached showrooms at the beginning of the year, adding a smaller model to the range. The V60 and V60 Cross Country also boosted volume while the new US-made S60 saloon is starting to reach dealerships in initial markets.
During the January-to-November period, US sales grew 24.5% compared with the same period last year, to 89,437 cars. The strong performance came on the back of growing demand for SUVs, led by the XC60. In November, Volvo Cars sold 8,181 cars, up 4.2% compared with the same month last year.
Retail sales in China reached 118,725 cars in the first 11 months, up 13.8% compared with the same period last year (104,344 cars sold). The locally assembled XC60 and S90 models were the main growth drivers. In November, the company sold 11,450 cars in China.
Europe also delivered a strong performance this year. Total retail sales in the 11 month period reached 288,369 cars, up 7.3%, helped by strong demand for the new 90 series cars and the XC60. In November, the company sold 27,797 cars in the region.
Globally, the XC60 continued to be the best-selling model in the first 11 months of the year, with 171,178 cars sold (2017: 169,673 units), followed by the XC90, with total sales at 85,159 cars (76,482) and the V40/V40 Cross Country at 70,875 cars (85,289). During the first 11 months, 67,104 XC40s were sold while the S90 achieved 52,034 units (39,815).