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Volvo publishes 2019 financial report: operating profit reaches 10 billion yuan, China's market contributes the most

via:驱动之家     time:2020/2/9 14:10:30     readed:464

Volvo, a luxury car in northern Europe, has been purchased by Geely for more than 10 years. It can be found that after Geely took over, Volvo's sales volume in the global market has also been significantly better. Correspondingly, the profitability of Volvo brand has also been much better.

Volvo has reported its financial results for 2019. According to the data, in 2019, Volvo's operating revenue was SEK 274.1 billion (about RMB 1987 billion), an increase of 8.5% year on year; the annual operating profit was SEK 14.3 billion (about RMB 10.4 billion), a slight increase of 0.8% compared with SEK 14.2 billion in 2018.

In terms of specific market, China is still the largest single market of Volvo in the world. And no matter in sales or revenue level is the first. According to data, Volvo's operating revenue in China reached SEK 60.53 billion in 2019, up 10.8% year on year.

At the same time, Volvo's total sales in China (including mainland, Hong Kong, Taiwan) in 2019 reached 161436, of which 154559 were sold in mainland China, up 18.7 percent from 2018, and hit its highest-ever single-market sales record.

It is worth noting that last year, the domestic car market experienced a long-term weak downward trend, and the production and sales of major domestic car enterprises also declined year on year, with an average decline of more than 5%.

But volvo's ability to rise against the trend in such an environment has been linked to geely's efforts to build its brand and sales channels, in addition to being competitive with its own models.

In addition, in other markets around the world, Volvo's sales performance is also remarkable. In the U.S. market, Volvo sold 108234 cars, up 10.1% year on year. This is the first time since 2007 that Volvo has sold more than 100000 vehicles in the US market. In the whole year of 2019, Volvo's global sales volume also exceeded 700000 vehicles for the first time, reaching 705400 vehicles.

However, like other car companies, Volvo has encountered many challenges in the current market environment. In response to increasingly stringent emission standards in Europe, Volvo will implement a more radical electrification strategy in the European market.

It is reported that Volvo hopes that in this year's sales volume,Plug-in hybrids account for a quarter. And, In 2020-2025, Volvo plans to launch at least one new pure electric vehicle every year.


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