Swedish car manufacturer Volvo reported upward momentum in its car sales, showing an increase of 8.7%growth in global sales for August 2016 when compared to sales for the same month in 2015. The company also marked a 10.1% increase in global sales for the first eight months of the year 2016.
A press release from the company stated, Volvo Cars posted an increase in sales with growth in major segments.
Sales of the Volvo’s new model XC90 was the major reason behind its the growth and another model XC60 continues to be the best-selling model in the overall market.
Volvo’s fastest-growing market still remains the United States Of America, which reported a retail sales of 52,917 cars, registering an increase of 29.5 per cent. The new Volvo XC90 continues to be the best-selling Volvo model in the US, and this is followed by the XC60. Sales in the US alone went up by 31.3 percent in August.
Sales of cars in China also showed a marked increase contributing to an overall market increase for the period and is now close to 10 percent. Total retail sales for the first eight months came to 54,496 cars, with the best-selling model being the locally-made Volvo XC60 and S60L models.
Sales in Western Europe went up by 7 percent. Volvo cars also had a considerable demand in several key markets including Germany, the UK, Italy and France. The Volvo XC60 is the best-selling model in this region.
Globally, the Volvo XC60 has been reported to be the best-selling model for the first eight months of the year 2016 with retail sales of 96,386 cars, followed by the Volvo V40/V40 Cross Country with a retail sales of 61,449 cars. The new XC90 is in the third place in sales with a retail sales figures of 58,491 cars.
Volvo Cars was acquired by Chinese automaker Geely in the year 2010, and currently employs nearly 29,000 people worldwide.