Saturday, March 22, 2014

Zlatan Ibrahimovic Helps Volvo Return To Profit

Via The Swedish Wire:

Reuters said Geely-owned carmaker Volvo Car Group returned to a solid profit in 2013 as firming sales, above all in China, and a firm lid on costs helped it overcome a weak start to last year and turn its back on a dismal 2012.

"This strong turnaround from the first half of 2013 is further tangible proof of Volvo Car Group's progress in implementing its transformation plan", the company said.

Volvo Cars has had a strong start of this year in Sweden, with four models on the top-ten list of best -selling cars, the company said in a February sales update.

For February, retail sales were up 8.6 per cent to 4,148 cars, boosted by the "Made by Sweden" campaign.

Sales of the XC carlines have grown by more than 50 per cent since the advertising campaign starring Zlatan Ibrahimovic, the footballer, started running, it said.

The Gothenburg-based company said 2013 operating earnings rose to 1.92 billion Swedish crowns ($301.9 million) from 66 million in 2012, a year in which one-off gains from the sale of technology to its parent helped keep the carmaker in the black.

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