Volvo expects to see 10% growth in 2014, through better products and key markets.

Volvo Car Group expects sales for the full year to increase by close to 10 per cent in 2014 driven by steady growth in key markets and an improving product offer, according to Håkan Samuelsson, president and chief executive.

Mr Samuelsson was speaking at the company’s first half results announcement in Stockholm where he reported an operating profit of SEK 1,21bn for the first six months of 2014, with sales up 9.5 per cent to 229,013 and revenue of SEK 64,8bn. Net income was SEK 535m.

Volvo’s profitable first half and encouraging full year sales forecast continues the positive momentum around the company, which is implementing a transformation plan and preparing for the imminent launch of the all-new XC90 next week.

“After this solid first half, we look forward from a position of strength. Growing demand for first-class safety and environmental performance will continue to support our global growth,” said Mr Samuelsson. He added that at this stage he expects full-year operating income this year to be on par with 2013.

Sales of Volvo cars in China rose by 34.4 per cent during the first half of the year and Volvo Cars expects to continue to grow strongly in what is now its biggest market, helped by demand for new local models like the S60L and a refreshed S80L, as well as a further expansion of the dealer network.

“We are growing our presence in China and we expect to sell at least 80,000 cars there this year. The European market is also showing signs of recovery and growth and we are well placed to benefit further. We are committed to the US, where a new management team is implementing a revival plan to improve our performance,” said Mr Samuelsson.

Volvo Cars strengthened its position as market leader in Sweden, with sales rising by 20.2 per cent in the first half. In Western Europe the continuing roll-out of the company’s brand new, class-leading Drive-E engines boosted demand in important markets such as the UK, Germany and the Netherlands. Total sales in the region rose by 8.7 per cent over the first six months of 2014.

More information on Volvo Car Group’s results over the first six months of 2014 can be found in the Group's Interim Report January-June 2014. The report contains more details on developments in Volvo Car Group’s various markets, as well as in-depth financial information.

Jaguar Land Rover wins Queen's Award for Enterprise for Outstanding overseas trade.

• Jaguar Land Rover awarded 2014 Queen’s Award for Enterprise in International Trade, for “outstanding overseas sales growth over the last three years”
• In 2013, Jaguar Land Rover sold 425,006 vehicles, in more than 170 countries; 80% of all vehicles produced in UK are exported
• Award conferred on 21 April 2014; official presentation July 2014

Jaguar Land Rover, the UK's leading manufacturer of premium vehicles, has achieved a prestigious 2014 Queen’s Award for Enterprise in International Trade, reflecting sustained sales success driven by global exports to over 170 countries.

The award is conferred today, on Her Majesty The Queen’s birthday, citing Jaguar Land Rover’s “outstanding overseas sales growth over the last three years”.

It is one of the most important awards for British businesses.  The official award notification to Jaguar Land Rover reads: “Her Majesty The Queen has been graciously pleased to approve the Prime Minister’s recommendation that your business should receive a Queen’s Award for Enterprise in International Trade, this year.”

Exports account for 80% of all vehicles Jaguar Land Rover produces at its three UK manufacturing plants.  In 2013, the company sold 425,006 vehicles, up 19% on the previous year. Jaguar Land Rover’s largest export regions are mainland Europe, North America and China, together accounting for 60% of all export sales.  

In addition, the company’s share of vehicle sales in regions beyond its traditional major markets in the UK, US and Europe has increased from below 15% in 2008 to more than 40% now, as it has focused on driving a balanced global sales presence.

Dr. Ralf Speth, Jaguar Land Rover CEO, said of the Queen's Award: "We are delighted and honoured to receive this recognition of Jaguar Land Rover's contribution to British enterprise.  Our success is thanks to our dedicated and passionate employees who create exciting vehicles that are in high demand with customers around the world.

"The more we build our business, the more opportunity we can create to improve the lives of many families, by recruiting and training more people, investing in facilities andcommunities, and strengthening the overall growth of the UK economy.

"This Queen's Award is the perfect complement to us being named Responsible Business of the Year 2013, in recognising our success internationally as well as the many positive ways we contribute to society."

Jaguar Land Rover vehicles are all engineered and designed in Britain, with two research and development centres in addition to its three production facilities.  The company now employs almost 28,000 people directly in the UK, rising to almost 30,000 globally, with a further 190,000 UK jobs supported in dealerships, suppliers and local businesses.

Later this year, Jaguar Land Rover will open its first all-new engine manufacturing facility - located near Wolverhampton, UK - to produce a new family of advanced, aluminium engines, called “Ingenium”, that will power future Jaguar and Land Rover vehicles.  The centre, which was visited in February by Prime Minister, David Cameron, is the product of a £500m investment by the company and will create almost 1,400 new UK jobs.  It will also create a further 3,500 highly skilled jobs in the supply chain and the wider UK economy.

Jaguar Land Rover is investing a further £1.5 billion to introduce an all-new, technically-advanced aluminium vehicle architecture in forthcoming models, beginning with the new Jaguar XE premium sedan to be manufactured from 2015 at the company’s Solihull facility, creating 1,700 new jobs.

This is the first Queen’s Award won by Jaguar Land Rover as a single company, but each of the brands has won six times in the past between 1967 and 2008.

In total, Jaguar Land Rover received over 200 international awards during 2013, for its products, its people and its business practices. It is also the only automotive company to hold all three Royal Warrants, as a supplier of goods and services to the households of HM The Queen, HRH The Duke of Edinburgh and HRH The Prince of Wales.