Volvo reports 7% car sales growth in Q1

Volvo Cars reported an over 7 percent of year-on-year sales growth in the first quarter of 2017, according to the company's press release on Monday.

The growth puts the company firmly on course for a fourth consecutive record year in retail sales.

Strong demand for the new 90 series cars remains an important factor in Volvo's positive sales performance, while the soon-to-be-replaced XC60 remains the best-selling model overall. An all new XC60 was revealed at the Geneva Motor Show last month and will start production at the Torslanda plant in Sweden this month.

The Asia Pacific region reported sales growth of 16.7 percent in March, boosted by a strong performance in China, Volvo's largest market. There, sales rose by 20.6 percent, driven by strong demand for the locally-produced XC60 and S60L models as well as the XC90 and S90.

Sales in the Europe, Middle East & Africa (EMEA) region increased by 13.6 percent, on the back of a strong performance in Sweden and double-digit growth in the United Kingdom and Germany. The region continued to see strong demand for the new V90 and XC90 as well as the XC60.

The Americas region reported sales of 6,687 cars, of which 5,356 were in the United States.

Volvo Cars, which was acquired by Chinese automaker Geely in 2010, employs over 31,000 people worldwide.