While the automotive industry in general is seeing quite the downturn, not every automaker is headed in the same direction. Volvo is bucking the trend as brand sales continue to climb, setting up what will likely be its fifth annual retail sales record in a row.
Just for October, sales were up 11.8 percent versus 2017 figures. Volvo says the first 10 months of sales are up 14 percent compared to last year.
This strong sales growth is happening in Europe and China, as well as in the U.S. Here, Volvo sales jumped 4.6 percent during October. American shoppers were especially interested in the XC60, which was recently completely redesigned. The XC60 is also the sales rock star worldwide, reflecting the fact shoppers want SUVs more than cars.
The launch of the all-new Volvo XC40 has also helped with sales growth in 2018. Volvo offers a unique subscription service for its smallest SUV, if you don’t want to deal with ownership woes.
If industry sales are dropping but Volvo is seeing an increase, that means it should be picking up market share from competitors as well as stealing sales from them. The Swedish brand has pushed into the luxury market with vastly improved quality and more sophisticated designs, a move that is paying off in a big way.