November 2, 2018 / 8:28 AM / 15 days ago

Geely's Volvo Cars posts double-digit sales growth in October

STOCKHOLM, Nov 2 (Reuters) - Volvo Car Group, owned by China’s Zhejiang Geely Holding Group Co, posted a double digit rise in October sales, putting it firmly on track for its fifth consecutive year of achieving record sales performance.

Helped by strong demand in all of its regions, Volvo’s sales for October grew 11.8 percent to 53,509 units from 47,841 units a year ago.

U.S. sales grew 4.6 percent buoyed by demand for its XC60 sports utility vehicle (SUV), while sales in China, Volvo’s largest market, jumped 3.2 percent due to strong demand for locally produced XC60 and its S90 premium sedan model.

For Europe, Volvo reported a 12.2 percent sales rise, citing demand for the XC60 and its smaller XC40 SUV.

Link to press release: bit.ly/2JyHtHk (Reporting by Esha Vaish in Stockholm; editing by Olof Swahnberg)

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