Volvo during great under Chinese owner

volvo (1)

Previously Swedish owned, car manufacturer Volvo Cars is currently seeing a rapid growth.

Part of the reason is that Volvo Cars is now owned by the Chinese car manufacturer, Geely Holding Group. In fact the number of sales of Volvo cars in China has now surpassed sales in the motherland Sweden.

On Thursday Volvo Cars announced that sales in June had increased by 74 percent to 5,798 cars compared to last year.  The Chinese sales have increased 34 percent compared to the first six months of 2012, with the number of sold cars amounting to 28,703.

With those impressive numbers, China has now surpassed Sweden, which is now only the 3rd biggest market, as sales dropped 3.5 percent to 25,385 for the first six months of the year.

When Geely acquired Volvo Cars from the American car giant Ford and in 2009 Volvo only sold 22,405 cars in China.

The Chinese part of the business is now 13.7 percent of global sales.

However, Volvo’s biggest market is still the US where 32,578 cars were sold the first six months of this year.

Source: epn.dk

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