Volvo beat sales record in China

STOCKHOLM, Sweden - Volvo has announced that 2014 sales have beaten previous records, mainly due to a successful expansion in China.

The automaker sold 465 866 cars in 2014, more than the previous best year of 2007 and up nine percent on 2013.

Volvo, which has belonged to Chinese automaker Geely since 2010, welcomed in a statement its "strong growth in China and Europe".

TOP SALES IN CHINA

China, now Volvo's biggest market, saw sales rise by 33% over 2013, more than double the increase for the general vehicle market, thanks to a "good image" among consumers, with Chinese ownership of three factories in the country.

In Europe, Volvo's sales increased by 11%, with notable bright spots in Sweden, where sales rose by 17%, Germany 18% and the UK 26%. In the USA,  once the company's main market, sales dropped by 8%.

'REPLACING ENTIRE RANGE'

Volvo has given no indication of its financial results. Geely, after accumulating losses until mid-2013, has begun to make a profit.

Volvo's vice-president of marketing, Alain Visser, said: "This sales growth is set to continue in 2015 and beyond as we set about replacing our entire model range through the next five years."

In December 2014 Volvo announced a new marketing strategy that included fewer auto shows, less sports sponsorship and a greater emphasis on online sales.