Chairman of Zhejiang Geely Holding Group Li Shufu (L) and former Executive Vice President and Chief Financial Officer of Ford Lewis Booth shake hands in front of a Volvo S60 car in the Volvo Hall at the Volvo plant and headquarters in Torslanda, Gothenburg in this March 28, 2010 file photo
Chairman of Zhejiang Geely Holding Group Li Shufu (L) and former Executive Vice President and Chief Financial Officer of Ford Lewis Booth shake hands in front of a Volvo S60 car in the Volvo Hall at the Volvo plant and headquarters in Torslanda, Gothenburg in this March 28, 2010 file photo

Volvo Car Group said Thursday that its operating profit rose 17.5 percent last year thanks to record sales in Europe and China.

A model poses with a Volvo concept car at Auto China 2014 in Beijing April 20, 2014. China is set to surpass the United States to become Volvo Car Group?s biggest market in 2014 with sales of at least 80,000 cars in the world?s largest auto market.
A model poses with a Volvo concept car at Auto China 2014 in Beijing April 20, 2014. China is set to surpass the United States to become Volvo Car Group?s biggest market in 2014 with sales of at least 80,000 cars in the world?s largest auto market.

The Gothenburg-based company said operating earnings rose to 2.25 billion SEK (268 million U.S. dollars) from 1.92 billion SEK in the previous year.
The all-time sales record of 465,866 cars represented an increase of 8.9 percent compared to 427,840 in 2013, and was supported by strong performances in China and Europe.
In China, the company’s largest market, Volvo Cars sold over 80,000 cars. In Europe, Volvo grew twice as fast as the overall market and all of its main competitors in the region.
The record sales have cleared the way for the company to continue investing in its global transformation, the company said. (1 U.S. dollar = 8.41 SEK) Enditem

Source: Xinhua

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