Volvo Cars reports SEK130.1 bn revenue during H1


Chennai: Volvo Cars has reported record revenues for the first six months of the year at SEK130.1 billion, up from SEK122.9 billion year-on-year.

The period witnessed the best first half-year sales performance in the company’s history. For the first six months, sales amounted to a record 340,286 cars, a year-on-year increase of 7.3 per cent, said a release.

The company has gained market share across the US, China and Europe, with the UK and Germany recording growth of 30 per cent and 32 per cent respectively.

Håkan Samuelsson, president and chief executive, emphasised that the company has prioritised growth and market share during the period, capitalising on the building momentum for the Volvo brand generated by an all-new line-up of award-winning models.

“At a time when most markets in the world see stagnating car sales, we have had strong growth in the first half,” Samuelsson said. “We continue to take market share in all regions where we operate, but increased pricing pressure and tariffs have decreased our operating profit. The cost measures we took earlier this year will come into effect in the second half of the year.”