Volvo aims doubling 2018 growth to 20%

Company delivered 1,021 cars last year, a 10% increase from 2016


Volvo Car Malaysia Sdn Bhd (VCM) is expected to double its growth this year from the 10% increase in sales that it recorded in 2017.

MD Lennart Stegland said the company delivered 1,021 cars last year, a 10% increase from the number that was sold in 2016.

He said that the strengthening of the ringgit is one of the major factors that would improve consumer sentiments, which, in turn, would have a positive impact on the company’s overall performance.

“There is a huge advantage for Malaysia following the ringgit appreciation. When it was very weak, we saw that the confidence was also going down.

“But, things are getting normal again now and I think that is a good sign for Malaysia,” Stegland told The Malaysian Reserve on the sidelines of the launch of the brand’s new SUV XC60 T8 Twin Engine in Petaling Jaya yesterday.

Despite the confidence, the company would still tread cautiously, especially with the 14th General Election around the corner that could also induce uncertainties in the market.

The Swedish marque also anticipates another intense year in the premium segment which would see great competition from German brands.

“The competition for the premium brand segment is very intense with the other German brands operating in Malaysia.

“Our job is to be as good as they are. We have been positioning our brand in a humanistic way and I think that is the way forward,” Stegland added.

For instance, the new midsize SUV Volvo XC60 T8 twin engine that was launched yesterday was awarded the best overall performance car by the Euro NCAP 2017.

The model offers a near-perfect score of 98% in the adult occupant category and 95% in the large off-road vehicle class.

The initial launch of the SUV has registered 100 complete built-up (CBU) units sold while the completely knocked-down (CKD) models will be rolled out beginning April.

The second generation of the XC60 comes nine years after the launch of its original model. It is the third plug-in hybrid cars introduced by VCM into the Malaysian market.

The original XC60 has recorded sales of nearly a million units globally, representing 30% of Volvo’s global sales.

The luxury crossover has two trim levels, namely Inscription and Inscription Plus.

The fully-imported Inscription Plus is priced at RM373,888 (on-the-road without insurance), while the locally-assembled Inscription Plus is priced at RM343,888.

The Inscription variant’s sale price is RM333,888.

The CKD version of the XC60 also comes with the T5 engine variant, which is offered at RM298,888.