Volvo Cars has announced a 27.7% growth in operating profit (EBIT) in 2017, earning SEK14.1 billion (about RM6.9 billion) compared to SEK11 billion (about RM5.4 billion) in 2016. Meanwhile, net revenue went up by 16.6% to SEK210.9 billion (about RM103 billion) from SEK180.9 billion (about RM88 billion) in 2016.
The Swedish carmaker also recorded 571,577 cars sold globally, which represented a 7% growth. This is largely boosted by a 25.8% sales increase in China, Volvo’s largest individual market. In other markets, Europe saw a 2.8% increase, while the United States declined by 1.8%.
Focusing on individual models, the current and previous XC60 continue to be the brand’s most popular models with 184,966 units sold. This is followed by the V40 with 95,370 units and the XC90 with 87,518 units.
“Our business has transformed completely since 2010 and we are now gearing up for a phase of global, sustainable growth. We are investing in all parts of our organisation and have laid out clear strategies around electrification, autonomous drive and connectivity,“ said Håkan Samuelsson, president and chief executive of Volvo Cars.
The company has already announced plans for a new production plant in Charleston, South Carolina, which will build the all-new S60 sedan as well as the next-generation XC90 SUV.
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Hope Proton also will be improving like Volvo. :)
Msians work better than Swedish..
Among the success factor was volvo had good access to China, through the influence of Geely. And the cars are good too.
While I believe proton can be as successful as Volvo too, proton must avoid putting handling as its main marketing POS.
Apparently proton ppl don’t know that other car companies are making progress as well. Vauxhalls, Fords, peugoet, Renault, Honda are all.making cars with better handling compare to 20 years ago when they are just using 13-14 inch wheels for B segment cars.
Obviously the handling point didn’t make proton selling well in Malaysia, or UK or Australia.
Volvo, Geely > all
Because china market growth so its sales went up, that means other market is so so if look at overall percentage
By volume, EU is still their biggest market. 2.8% increase is pretty substantial than China’s 25.8% increase.
This year is sure to increase volume even greater with XC40’s full year sales to be accounted. Being most affordable new era Volvo, can expect Volvo to break 4th year sales record in a row.
Well done volvo but only 5% of Audi market share.
Well Audi in Malaysia which is way below Volvo sales despite heavy promotion all year round in 2017 .
Many Proton fanboys now think Proton will be multi-billion dollar company after seeing Volvo’s great profits. But let me remind the Proton fanboys this:
1) Before Geely was bought up by Volvo, Volvo was world standards and the company had business ethics. The company was failing because their Volvo cars were outdated and not selling well. Other than that, the Swedish workers at Volvo was super hardworking, lean and strong team of highly skilled automotive specialist and the company had no crony or nepotism practices. Zero corruption.
This is why after Geely cash injection, the company shot up like a rocket.
2) Proton on the other hand is full of cronyism, corruption, parts supplied by suppliers overpriced by 30%, lembap and over-bloated low skilled staff. Too much politics involved and kerajaan and cronyism still a big problem.
This is why even after Geely injection, nothing will happen unless corruption and cronyism is sorted out.
Elon Musk surely hates to have you as his friend or worker. All hatred and negativities and never any hope and positivities.
For once, give constructive suggestion on how to improve Proton.
What an amazing turnaround led by Geely Chinas since 2010. Volvo sets another record!
We should have sold Proton to VW long ago. VW would have saved Proton like how they saved Skoda and all their other brands.
Pity Proton was to arrogant then. They actually told VW to go to hell.
Anyway 10 years Proton suffered with heavy losses per year since they rejected VW
People will curse Proton worse if that happened, always gearbox rosak, piston crack. A blessing in disguise it didn’t materialise.
Syukurlah Bao Teng now with Geely family. Safety and comfort will be second to none. Latest powertrain also Euro 6, so clean and fuel efficient, tak nak pening, tak payah fikir, beli je.
Hope Geely can do the same magic with Proton.
Volvo >> All.
Well done Geely!!!
Volvo in Sweden never cry got special privileges for their 3S centre
Got my first Volvo recently and no regrets! Good going Volvo!
brand new car of course no regrets. lets see if you are still happy 5 years later.
I was crying over my brand new Mercedes C class just before the end of the third year of ownership..
Mercedes is even worst nowadays…
Looks like Volvo is thriving with Geely investment & they are reaping profits from Volvo success. Lets hope Geely can make P1 great again !!!