The Swedish auto giant is known for its strength & sustainability which is equivalent to safety. These very attributes along with others, has enabled the carmaker to garner record sales for the first time in its 89 years of existence. Yes, after a long sabbatical, seeing hard times in so many years, company has reaped the fruits of its labor by selling 503,127 cars globally in the year 2015.
The new sales underlines the core strategies and financial transformation of the company. The strong sales in late 2015 have emerged with the increasing popularity of new XC90 SUV. The firm reported increased sales from its three core global regions in the world. Sales jump in the US was the most staggering as company witnessed 24.3 percent rise in the year 2015. The sales in European region rose by 10.6 percent with 269,249 units, making up 53.5 percent of the total global sales. In the crucial Chinese market, though it was a bit challenging, but the sales surged at the end of the year making the fourth quarter saw a jump by 11.4 percent.
Håkan Samuelsson, chief executive, said “I am delighted to report that 2015 was a year of record sales. Now, with a successful 2015 behind us, Volvo is about to enter the second phase of its global transformation. Once completed, Volvo will have ceased being a minor automotive player and taken its position as a truly global premium car company. More records will tumble in coming years.”
The company with intention of introducing new products in coming times, now aims to take these global sales figure to 800,000. This would be achieved by embedding new technologies and fresh set of hybrid engines. Looking at the growing trend of environment friendly cars, Volvo will also develop an all-electric vehicle for the first time, which is expected to cover 10 percent of its total sales in future.
The carmaker will showcase the new S90 premium sedan at the North American International Auto Show. The sedan will be launched in India by the end of 2016.
(With Agency Inputs)