Volvo ended 2021 as the fastest growing luxury car brand in Australia after notching up the biggest sales year in its history.
Based on 2021 national car sales data released today by the Federal Chamber of Automotive Industries (FCAI), Volvo Cars achieved a 17.5% lift in sales compared to 12 months ago, easily outperforming its main luxury car competitors.
According to Volvo Car Australia Managing Director, Stephen Connor, this performance augurs well for an even bigger year in 2022 as global supply chains are addressed.
"I am excited for our brand and what is to come in 2022. Volvo in Australia has had 4 years of consecutive growth and 2022 will be no different. The future of our brand and products sets us apart from other luxury manufacturers."
"To have achieved a 17.5% increase in a year hampered by a number of constraints is a fantastic result for Volvo Cars, especially when the luxury segment only increased by 2.4% in 2021."
"Having secured a minimum of 20% production growth for 2022 things for Volvo Cars will only continue to get better. But I am determined for and confident of further growth and will continue to push for even more production to meet the demand of our brand."
"We are seeing a surging demand for electric vehicles in Australia, and in 2022 pure electric cars will make up a minimum 30% of our sales. This will only increase as more and more Australians embrace the all-electric drivetrains."
"We are pushing for more production of our pure electric vehicles as we drive towards our 2030 goal of only selling Pure Electric vehicles." Connor said.
To meet the growing demand Volvo announced in December it is launching single motor variant of its popular XC40 Recharge Pure Electric compact luxury SUV.
In the second half of 2022 Connor revealed Volvo will launch the C40 Recharge, its second all-electric car to arrive to Australia and built on the successful CMA platform.
"C40 Recharge has all the benefits of an SUV, but with a lower and sleeker design. It represents the all-electric future of Volvo and our commitment to zero emissions," he said.
To kick off 2022 Volvo has launched a new generation plug-in hybrid version of its XC60 and XC90 luxury SUVs with bigger batteries, doubling the electric driving range and now capable of 90 kilometres of pure electric driving on a full charge.
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Volvo Car Group in 2020
For the 2020 financial year, Volvo Car Group recorded an operating profit of 8.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 262.8 BSEK (274.1 BSEK). For the full year of 2020, global sales reached 661,713 cars (705,452), a decline of 6.2 per cent compared to 2019.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 661,713 cars in 2020 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.
As of December 2020, Volvo Cars employed approximately 40,000 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg,
Sweden. Volvo Cars head office for APAC is located in Shanghai. The company's main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
Media inquiries:
Greg Bosnich
Director, PR & Corporate, Volvo Car Australia
T: +61 2 9020 1673
M: +61 419 620995
E: greg.bosnich@volvocars.com