Volvo Cars is the fastest growing top-five luxury car brand in Europe
Swedish carmaker Volvo Cars known to build the safest vehicles on the planet is not performing as well as the big three German auto giants Mercedes-Benz, BMW and Audi in India. But back in Europe Volvo Cars is the fastest growing top 5 luxury car brands in the European market. Sales of Volvo Cars increased by 12.9 percent during the first eight months of 2014. The strong sales performance can be attributed to the Swedish auto maker`s healthy numbers in markets like UK, Germany and Sweden, while markets such as Poland, Spain, Finland and France also showed a steady growth.
The most significant sales region for Volvo is Europe, with half of the company`s total sales coming from this region. President and CEO of Volvo Cars, Hakan Samuelsson mentioned that the overall recovery in the European car market remains cautious, but the company is clearly bucking that trend. The launch of updated and refreshed versions of the Volvo V60, S60, XC60, XC70, V70 and S80 which were launched in 2013 has helped the company grow further.
Recently Volvo Cars launched the all new 2 litre, Drive-E engine family which also boosted the brands appeal to European consumers. The new powertrains offer a combination of power and lower emissions. China is the single largest market for Volvo cars, where sales rose by 36.9 percent during the first eight months, outperforming its competitors.
Volvo Cars projects a growth of 10 percent globally for the whole of 2014.