Volvo V70 most sold car in Sweden in 2012

The Volvo V70 was Sweden’s most sold car in 2012, the 55th consecutive year Volvo Cars took the honour on home turf.

Volvo V70 most sold car in Sweden in 2012

Swedish motorists bought more Volvo V70s than any other car in the country, according to statistics published by the Bil Sweden industry organization on Tuesday. The Volvo S60/V60 took the bronze.

“I can’t deny that I’m proud of our efforts in 2012,” said Anders Gustafsson, CEO of Volvo Cars Sweden, in a statement.

“We have continued to deliver despite the Swedish car market slowing down somewhat. But our results show that we have the models that Swedes want.”

In second place on the list was the Volkswagen Passat, which sold almost 16,300 units throughout 2012. Volkswagen also took home fourth place on the list with its Golf, which sold almost 11,300 cars in Sweden.

The Volvo V40, which was launched in August 2012, also made the list, finishing as the country’s 25th most sold car.

“It’s fantastic to see how the new Volvo V40 has been received – it’s a success,” Gustafsson said.

In 2012, almost 22,000 Volvo V70s were registered in Sweden, and over 14,300 of the S60/V60 model.

Volvo Cars claimed 18.9 percent of the market share.

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Volvo stays in fast lane despite China dip

Swedish automaker Volvo Cars, owned by China's Geely, reported Wednesday a rise in first half profits even as sales tumbled in its biggest market, China.

Volvo stays in fast lane despite China dip
Volvo Cars' Swedish chief executive, Håkan Samuelsson. Photo: Bertil Ericson/TT

Note: An earlier version of this story said that first-half profits fell. While net profit attributable to shareholders indeed fell, overall net profits were up. The story has been amended to reflect this.

Net profit more than tripled to 877 million kronor (92 million euros, $56 million), while turnover climbed by 12 percent to 75.2 billion kronor.

Operating profit surged by more than 70 percent to 1.66 billion kronor, thanks to a strong US currency and robust sales of Volvo's SUV model XC60.

But net income attributable to owners of the parent company dropped by 60 percent to 173 million kronor (18 million euros, $20 million).

Volvo's overall car sales in terms of units rose by 1.4 percent to 232,284 during the first half.

The strongest sales growth was registered in Sweden and western Europe, while they remained stable in the United States and declined in China, by 1.2 percent, and the rest of the world, including Russia.

Volvo went through several dark years before returning to profit in 2013. In 2014, it beat its sales record from 2007, selling almost 466,000 vehicles. CEO Hakan Samuelsson told Swedish news agency TT the company expects to sell 500,000 cars this year.

The number of Volvo employees has risen by 10 percent in the past year, to 28,000 worldwide.

Despite its economic slowdown, Volvo plans to boost its presence in China and has acquired 50 percent of three joint ventures from parent company Geely: two assembly plants and one research and development centre.

Geely paid $1.8 billion to buy Volvo from US carmaker Ford in 2010.