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Volvo Celebrates 80 Years in Finland

July 14, 2008

FINLAND– Volvo Cars’ Finnish subsidiary is celebrating its 80th birthday.The company named OY Volvo Auto AB was first registered on July 10, 1928. Today,the Volvo brand stands in third place in the new-car registration rankings witha market share of seven percent in Finland.

 

OY VolvoAuto AB was Volvo’s first foreign subsidiary, established only a little over ayear after the first production Volvos were built in April 1927. Sales of Volvobuses and trucks were strong from the outset in Sweden’s eastern neighbor, althoughVolvo car sales were to take longer to gain momentum. Tight import controls anda steep incremental taxation scale were to hamper Volvo’s growth here in thefirst decades after the end of World War II in 1945.

 

Today,however, OY Volvo Auto is a major player in the Finnish car market. Volvo Carshas been the market leader in the large-car segment for a number of years now,and last year the brand gained new ground in Finland in terms of total car salesin all segments. The brand went from fifth place to third overall, selling 7.0percent of all the new cars registered in Finland in 2007.

In 2007Volvo Cars also emerged as the top brand for customer service in a survey conductedby motoring magazine Autobild Finland,and was voted most popular car brand in another major survey by the magazine Markkinointi & Mainonta. 2008 beganexceptionally well too. The all-new Volvo V70 came out top in a comparativewinter-testing study by the magazine TekniikanMaailma, and the Volvo S40 was named Best Diesel in a study of ‘environmentalcars’ by the magazine called Tuulilasi.

VolvoCars has succeeded well in holding its market share since Finland movedto a car taxation system based on carbon dioxide emissions from the start of2008. New registrations in the first half of this year came to 6,092 units forVolvo Cars. This made it the third-to-top brand in Finland, with a market share ofseven percent. The corresponding figures for the first half of 2007 were 5,094new Volvos registered and a market share of 6.7 percent. Sales of Volvo cars inthe first half of 2008 were 19.6 percent up on their 2007 level, at a time whenthe Finnish market for all brands revealed 13.7 percent growth.

 

The VolvoV70 is the most popular model, accounting for 36 percent of all the new Volvosregistered in Finland in 2007. The Volvo XC90 and XC70 models also sell very well in Finland,and the new Volvo XC60 is expected to attract even more attention for the brand’sXC-range of cross country and crossover models when it arrives.

 

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