2016 is shaping up to be a record year for the Geely-owned luxury marque.
Volvo is in a great shape nowadays, with sales in the first half of the year increasing by 10.5 percent compared to the same period of 2015. The growth was obviously fueled by the introduction of new products such as the S90 and V90 midsize models, helping the brand sell a total of 256,563 cars. The trend is likely continue in the latter half of the year since Volvo estimates deliveries of the two models will further increase.
Let’s not forget about the XC90 which continues to be a very popular choice among Volvo buyers, contributing with 43,911 units of the total sales numbers during January - June 2016 and exceeding the company’s expectations.
The higher demand has helped Volvo more than triple its operating income to SEK5.59 billion (about $649.6M / €589.1M) in the first half of the year while the operating profit margin grew from 2.2 percent to 6.7 percent. The news just keeps on getting better as revenue for the year’s first half increased from SEK75.215B ($8.74B / €7.92B) to SEK83.647B ($9.72B / €8.8B).
Volvo is obviously already looking ahead, preparing an assortment of new models. Basically, the entire lineup with the exception of the XC90, S90 and V90 will be refreshed in the years to come, and new models will be added. These include a first-ever XC40 and a pure electric vehicle slated to arrive in 2019. The icing on the cake will be an assortment of sporty editions prepared by Polestar, now a wholly-owned subsidiary of Volvo.