Volvo is reporting massive interest in its new XC90 model line-up and particularly so for the top of the range Inscription model.
The Swedish-based, Chinese-owned outfit says it has had nearly 57,000 orders for the carnew beast, outstripping forecast sales for this year of 50,000. The company is running three shifts at its plant in Torslanda, Sweden, to meet demand.
“With 76% of customers choosing the top end Inscription model, it is fair to say that we have now entrenched our position as a premium car maker,” said Alain Visser, senior vice president for marketing sales and customer service.
The new XC90 marks the beginning of a new chapter in Volvo’s history, capturing its future design direction, incorporating its own range of new technologies and utilising its new Scalable Product Architecture (SPA) technology.
The news latest update on sales for the XC90 came as Volvo reported excellent financial results for the first half of 2015.
Retail sales during the first six months of 2015 were 232,284 cars, up slightly compared to 229,013 in the same period last year, driven primarily by strong demand in Europe. Sales in China were flat during the period while US sales in the US stabilised.
“It has been a good first half of the year, with an improved financial performance,” said Håkan Samuelsson, president and chief executive.
“We have been implementing a transformation plan since 2010 and this financial result demonstrates that we continue to be on the right track.”
Driven by the complete renewal of its product range, Volvo is aiming to almost double sales to around 800,000 cars a year in the medium term.
Volvo has also announced it will build a new manufacturing facility in South Carolina. Construction on the $500m plant near Charleston will start this fall and the new facility will have initial production of around 100,000 cars per year and be completed by 2018.
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