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Volvo Car Corporation Increased in 2003 - Success for the Volvo XC90 and a record year in the USA

21. January 2004

  • 2003 was a successful year for Volvo Cars, thanks primarily to record sales in the USA and huge demand for the Volvo XC90.
  • Total sales amounted to 415,046 cars, an increase of 2.2 percent compared with 2002.
  • Sales in North America increased by 21 percent to 148,528 cars, while Europe dropped back by 6.5 percent, largely owing to the difficult market situation in Germany.

During its first full year on the market, the Volvo XC90 was the biggest attention-grabber of the entire Volvo Cars model range. Sales of the XC90 totalled 62,177 cars, and demand for this model is so great that the company has now decided to increase the annual production rate to 90,000 cars.

Another positive development is that the success of the Volvo XC90 has not come at the expense of the Volvo XC70, which held its own compared with 2002. The best-selling model in the range for the past three years is the Volvo S60, with sales totalling 90,910 cars in 2003 (2002:107,463).

Fourteen consecutive months of climbing sales in the USA
Although the overall market shrank, Volvo Cars had its best-ever year in the USA. After fourteen straight months of steadily improving sales, 2003 ended with deliveries of 134,620 cars, an increase of 22 percent over the year before. As expected, the bestseller was the Volvo XC90, accounting for 35,791 cars sold.

In Europe, sales shrank by 6.5 percent to 221,632 cars (2002:236,951). 

In Sweden, which is Volvo Cars’ second-largest market, sales dropped slightly by 1.5 percent to 47,928 cars. However, Volvo nonetheless maintained its market share of just over 19 percent, with the Volvo V70 leading the sales league with 23,000 cars. The V70 is the best selling car model in Sweden.

In Britain, sales shrank by 3.5 percent to 39,135 cars (2002:40,580).

A deep recession in Germany combined with a sagging overall market and the reorganisation of Volvo’s dealership network there combined to cut Volvo’s sales by 26 percent to 30,285 cars (2002:41,045).

Sales of imported cars in Japan decreased by almost 7 percent. Volvo, however, fared better than most of its competitors, managing to limit its sales cut to just 3 percent. All told, Volvo Cars sold 14,755 cars in Japan in 2003 (2002:15,242).
It is also worth noting that Volvo is selling well on key growing markets. In Russia, Volvo’s sales rose by 69 percent to 4,991 cars (2002:2,947) while China increased by 28 percent to 2,516 cars (2002:1,960).

The new Volvo S40 and Volvo V50
The new Volvo S40 and Volvo V50 were the main news models for Volvo Cars in 2003. The Volvo S40 had its world premiere at the Frankfurt Motor Show in early September, and three months later the wraps were pulled off the Volvo V50 at the motor show in Bologna.

These new compact models are the first fruits of Volvo’s technological cooperation with Ford and Mazda. The Volvo S40 and Volvo V50 boast dynamic driving properties and safety on a par with Volvo’s larger models.

The new Volvo S40 and Volvo V50 are made at the Volvo Cars factory in Ghent, Belgium. Volvo’s production in Born in the Netherlands ends with the phasing out of the previous generation Volvo S40 and V40 during the first half of 2004. When fully expanded, the Ghent factory will be the company’s largest production facility with an annual capacity of 270,000 cars.

In early 2003, Volvo also unveiled an updated Volvo S80, with a more elegant design and the unique FOUR-C chassis system that made its debut in the R models the year before.

New convertible in joint-venture with Pininfarina
During the year, it was announced that the next convertible from Volvo Cars would be developed in cooperation with world-renowned Italian design house Pininfarina. The partnership includes manufacture of the new open-top car, which will be built in a jointly owned facility in Uddevalla on Sweden’s west coast. Pininfarina owns 60 percent and Volvo Cars owns 40 percent of the new company, which is called Pininfarina Sverige AB.

Close cooperation with German transmission specialists GETRAG was launched at the Volvo Cars factory in Köping. GETRAG owns 60 percent and Volvo Cars 40 percent of the new company, GETRAG All Wheel Drive AB.

The aim of the partnership is to make Köping a competitive independent centre for the development and manufacture of four-wheel drive systems for the entire car industry. The Köping factory will also continue to manufacture chassis components.

Another noteworthy development is that Volvo’s facility in Skövde is the first engine factory in the world to receive the highly prestigious World Class Award for Total Productive Maintenance (TPM). 2003 also set a production record for the factory, with a total of 391,000 engines manufactured.

Retail sales 2003 compared with 2002

Per region 2003 2002 Change in %
North America 148,528 122,811 +21
Europe   221,632 236,951 -6.5
Asia/Oceania 12,065 11,681 +3
VCOC 13,838 14,759 -6.2
Japan 14,755 15,242 -3.2
VCIC 4,222 3,972 +6.3
Other 6 1,279 -
VCC Total 415,046 406,695 +2.2%
       
Per model   2003 2002 Change in %
Volvo XC90 62,177 5,040 +1,234
Volvo XC70 35,146 35,320 -0.5
Volvo S80 38,644  42,815 -10
Volvo S60 90,910 107,463 -16
Volvo S40 43,068 51,388 -16
Volvo V70 83,359 94,729  -12
Volvo V40  53,592 61,475 -13
Volvo C70 Cab 7,840 6,148 +28
Volvo C70 coupe 288 2,208 -87

Production

SWEDEN   THAILAND 1,296
TORSLANDA     Volvo XC90 552
(Gothenburg) 158,384   Volvo S80 192
Volvo S80 38,889   Volvo XC70 36
Volvo XC70 35,561   Volvo V70 84
Volvo V70 15,458   Volvo S60 264
Volvo XC90 68,476   Volvo X40 168
         
UDDEVALLA 7,885   MALAYSIA 1,056
Volvo C70 7,885   Volvo XC90 576
      Volvo S80 120
BELGIUM     Volvo S60 120
GHENT 157,149   Volvo X40 240
Volvo V70 67,364      
Volvo S60 84,908  
New S40/V50 4,877   TOTAL PRODUCTION 416,329
      Volvo S80 39,201
THE NETHERLANDS   Volvo C70 7,885
BORN, NedCar 89,191  

Volvo XC70

35,597
Volvo X40 89,191   Volvo V70 82,906
      Volvo S60 85,292
SOUTH AFRICA   Volvo X40 90,967
Volvo X40 1,368   Volvo XC90 69,604
      New S40/V50 4,877

Employees
Volvo Cars had 28,100 employees in the end of 2003.

AWARDS 2003

Volvo XC90  
Canada  
XC90 – Pyramid Award for Safety Innovation (ROPS) Canadian Automobile
Ass.
France  
XC90 – Design Award Salon du 4X4 de Val
d'Isère
Germany  
XC90 – Best imported SUV Auto Trophy of
Auto Zeitung
XC90 – Best Design Readers of Auto
Strassenverkehr and
motor
XC90 – Innovation price for ROPS Auto Bild alles Allrad
Hungary  
XC90 – The family car in 2003 Nök Lapja ladies weekly
mag.
Malaysia  
XC90 – Premium SUV of the Year New Straits Times
(daily paper)
XC90 – Car of the Year  
Russia  
XC90 – Best Vehicle in SUV Class "Golden Klaxon" –
Klaxon magazine
Saudi Arabia  
XC90 – 4X4 of the year 2004 Arabian Man/Arabian
Woman mag.
Singapore  
XC90 – Car of the Year Award/SUV of the Year Award Singapore Straits Times
Sweden  
XC90 – Design Prize Association of Swedish
Engineering Industries,
Svensk Form &
Foundation of Swedish
Industrial Design
The UK  
XC90 – Scottish Car of the Year Award 2003 Ass. of Scottish Motoring
Writers
XC90 – Best SUV (Scottish Car of the Year) Ass. Of Scottish Motoring
Writers
XC90 – Car of the Year 2003 and Best 4x4 Off-Roader Auto Express New Car Honours Auto Express magazine
XC90 – Best 4X4 2003/Top Gear Car of the Year Top Gear Magazine
2003 awards
XC90 – Best 4X4 Car of the Year 2003 awards What Car? Magazine
The US  
XC90 – Best Family Vehicle of the Rockies Automotive Rocky Mountain
Press Organisation  
XC90 – Best Engineered Vehicle for 2003 Automotive Engineering
Int.
XC90 – Best Winter Vehicle New England Press Ass.
Best of the Best for 2003 – Car of the Year Automondo
(Sp. language) magazine
XC90 – Truck of the Year in North America North American
(US/Canada) Car of the
Year Jury
Volvo S60  
The US  
S60R – Europe Car Grand Prix winner European Car Magazine
S60R – Car of the Year European Car Magazine
S60 AWD – Best All-weather sedan $30,000+ New England Press Ass.
Volvo XC70  
The US  
XC70 – Best All-Wheel Drive Wagon SmartMoney Magazine
XC70 – Best All-weather wagon New England Press Ass.
Volvo S80  
China  
"My most admirable luxury car" www.sina.com
Netizens poll
Sweden  
S80 Bi-Fuel – Best Environmental Car in Large Car Category Gröna Bilister (Green Motorists Org)
The UK  
S80 – Executive Car Auto Express Used Car
Honours
Volvo V70  
Germany  
V70 – Best import car in upper middleclass Flottenaward by
Autoflotte
The UK  
V70 – Estate Car Auto Express Used Car
Honours 2003
New Volvo S40/V50  
Russia  
Volvo S40 – Best Vehicle in Middle Class "Golden Klaxon" –
Klaxon Magazine
Other awards  
Germany  
Volvo Bi-Fuel CNG – Best imported alternative fuel Flottenaward by
Autoflotte
Sweden  
Volvo Bi-Fuel cars – Miljöbästa bil 2003 Gröna Bilister "Green
Motorists"
My Concept Car (Your Concept Car) – Project group "The Golden Sparkplug
The Swedish Automobile
Association (M)
The UK  
Peter Horbury – Special Award Auto Express Used Car
Honours

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