Volvo Car Group
reported a full-year operating profit of 1,919 MSEK for 2013 and will stay
in the black and grow sales in 2014, President and CEO Håkan Samuelsson said
today. Retail sales are forecast to grow by “a good” 5 per cent in 2014, Samuelsson
added.
In 2013, Volvo
Cars continued its transformation, increasing retail sales for the year by
1.4 per cent to 427,840 cars. Revenue over the period came in at 122,245 MSEK
(124,547 MSEK), while net income amounted to 960 MSEK (-542 MSEK).
“We are delivering on the plan we set out four years ago:
focus on profitability, revitalise the brand, reinforce our product strengths
and leverage our potential and position in China,” said Samuelsson. “2013 was a year of groundwork for Volvo Cars, successfully
preparing the way for the future. This year our total sales are forecast to
increase and we will – with the XC90 – reveal the first product of a portfolio
that will delight our customers, paving the way for the company’s future
growth.”
Looking ahead, sales
in 2014 will continue to grow, driven by steady growth in key markets and
an improved product offer. In China, Volvo Cars will build on a strong sales
performance in 2013, when sales rose 45.6 per cent to 61,146 cars. New models
like the S60L and the sales start of the V40 Cross Country as well as a further
expansion of the dealer network will support Volvo Cars’ continued growth.
In the US, Volvo Cars
now has an improved customer offer with a line of fully refreshed S60, XC60,
XC70 and S80 models, the sales start of the V60 sports wagon and the roll-out
of the highly efficient Drive-E powertrains. Market circumstances in Europe are
expected to remain challenging, but Volvo Cars aims to retain its market share
in the region.
Volvo Cars
Headquarters, Gothenburg Sweden - Aerial Shot
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