· Volvo's sales in January increased by 22.4%. China and the US market grew strongly.

Volvo Car Group, a global luxury car manufacturer owned by Geely, said recently that its car sales in January 2018 increased by 22.4% year-on-year due to its strong growth in China and the US market.

Volvo's global sales for the month were 43,439 vehicles, an increase of 22.4% compared with 35,475 vehicles in the same period last year.

Volvo Cars began localizing its car production and began selling its new mid-size SUV, the XC60, which contributed to a 38% increase in sales of Volvo Cars in China in January.

Volvo Cars sales in the United States increased by 60.5% in January, and the XC90, S90 and the new XC60 drove sales growth in the US market.

Sales of Volvo Cars in the European market increased by 11.7% in January.

2017 results

Volvo Car Group's sales in 2017 hit another record high: thanks to the growth of market operations in various regions of the world, Volvo Car's global sales increased by 7.0% from 2016 to 571,577 units.

In Europe, the Middle East and Africa, Volvo car sales increased by 3.3% year-on-year, while sales in the Americas increased by 0.7% year-on-year.

In the Asia-Pacific region, Volvo's car sales soared by 20.9%. As China's largest market in Volvo, Volvo achieved unprecedented performance, with sales up 25.8% year-on-year, and annual sales exceeded 100,000 units, reaching 114,410 units. The new XC60 and 90 series are the main drivers of sales growth.

According to the plan, Volvo Car Group plans to release its 2017 financial report on February 8.

In 2017, Volvo launched a comprehensive electrification strategy. Since 2019, all new models will be equipped with electric motors and independent of the high-performance electric car brand Polestar.

Volvo plans to launch five pure electric vehicles in 2019-2021. Three of them are Volvo brand models, and the other two are Volvo Car's Polestar high-performance electric vehicles. These five models are also available with plug-in hybrid or 48 volt mid-mix hybrid.

Volvo Cars also plans to jointly develop the next-generation Android in-car interconnect system with Google in the field of smart connectivity and fully implant it in Volvo's existing Sensus intelligent in-vehicle interconnect system.