Volvo sees 11.8% sales growth

Volvo Cars is headed for its fifth consecutive year of record retail sales after posting an 11.8% sales growth in October, compared with the same month last year.

The performance was led by growth in all key regions of the US, China and Europe. The company sold 53,509 cars during the month.

In the first 10 months of 2018, Volvo Cars sold 526,062 cars, a growth of 14% compared with the same period last year. This puts the company on course to end 2018 setting a new global sales record. In 2017, the company sold 571,577 cars.

During the month of October, US sales grew 4.6 per cent, as demand for Volvo’s SUVs remained strong. Volvo sold a total of 7,327 cars during the month, compared with 7,008 cars sold in the same month last year.

China reported a 3.2 per cent growth in October with retail sales reaching 11,083 cars compared to 10,744 cars in October 2017.

In Europe, Volvo Cars sold 26,892 cars in October, up 12.2% compared with the same month last year.