My thoughts on all things motoring, press releases, reviews & techie stuff, from around the world.
Please note that the pictures of vehicles within this blog are used as examples of the specific press releases, on occasions, due to the lack of available official pictures, examples are re-produced.
ANY AND ALL PROFANITIES WILL BE REMOVED AND THE PERSON/S RESPONSIBLE WILL BE BANNED, NO EXCEPTIONS.
I will try my best to provide detailed info on various cars and what is like to live with them, I have already produced a few for Jaguar-car-forums, I will do my best to be unbiased, but it will be hard for some cars. I will re-produce press releases and copy from other motoring news.
Friday, 21 July 2017
Volvo see's sales, revenues and profits all raise in the first half of the year, January-June
Volvo Cars, the premium car maker, has reported strong growth in operating profit of SEK6.8bn in the first half of 2017, compared with SEK5.6bn for the same period last year, after taking market share across Europe and experiencing a robust sales increase in China.
Revenues rose to SEK99.1bn from SEK84.2bn in the first six months of 2016, while the operating profit margin improved to 6.8 per cent from 6.6 per cent a year earlier, even as the company continues to invest heavily in new cars and technologies.
Sales for the first six months of the year increased 8.2 per cent compared with the same period last year to 277,641 cars. The first-half increase in sales means Volvo Cars remains firmly on course for a fourth consecutive record year.
“We have reported strong profits at the same time as making ongoing investments in our transformation,” said Håkan Samuelsson, president and chief executive. “Our momentum continues to build.”
During the first half of 2017, the company took market share in the EMEA region, following healthy growth in several key markets. Sales were up by 6.6 per cent during the period.
In the Asia Pacific region and China in particular, Volvo outperformed the market. Sales in the region increased by 22.6 per cent, while China sales were up 27.6 per cent.
In the US, Volvo Cars expects to report solid full-year growth after a strong second half of the year. Delivery constraints affected first-quarter sales, but a return to growth during the second quarter and the impending start of delivery of the new XC60 mid-size SUV point to a stronger finish.
“Globally, we expect the pace of growth generated in the first half of the year to continue. We are confident we will report another record year in terms of sales,” said Mr. Samuelsson.
Later this year, Volvo Cars will launch its all-new XC40, its first entry into the fast-growing small premium SUV segment, completing the company’s SUV line-up