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Volvo Cars today reported the best half-year results in terms of sales and operating profit in its 94-year history amid increasing demand for its cars across all regions. The half-year financial report, which can be found here, showed the company achieved a revenue of 141 billion SEK, up 26 per cent, driven by strong demand and positive mix effects. Operating income was 13 billion SEK in the first six months of 2021, representing an operating margin of 9.4 per cent.
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PEUGEOT has continued its strong performance in 2021, increasing its UK new car and van market share year on year to 4.7%, according to the latest registration figures released by the Society of Motor Manufacturers and Traders (SMMT). PEUGEOT has also improved its Passenger Car Low Emission Vehicle (LEV) sales mix from last year, jumping from 11.2% in 2020 to 15.5% in the first five months of the year.
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The Mitsubishi Motors heritage auction drew to a close on the evening of April 30, 2021 and, after values had climbed steady throughout the month of April, there was a flurry of last minute action as the auction deadline for each lot approached. Unsurprisingly, the Mitsubishi Lancer Evolution VI Tommi Mäkinen Edition was the most sought-after car in the auction, with a top bid of £100,100 setting what is a record hammer price for a Mitsubishi Lancer Evolution (previously around £99,000 for a delivery-mileage Evo IX set in the US in 2017).
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Volvo Cars achieved its 10th consecutive month of sales growth, as the company’s global sales increased by 97.5 per cent in April compared with the same month last year. In April, Volvo Cars sold a total of 62,724 cars, up from 31,760 cars in the same period last year. The growth was mainly driven by strong demand in the US and Europe, in combination with a recovery from a sales drop in April last year related to the Covid-19 pandemic. In China, where sales returned to growth around this time last year, the company reported a steady increase of 11.6 per cent.
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With revised pricing for all e-2008 models and enhanced deposit contributions for the e-208 range, PEUGEOT has reinforced its commitment to affordable electrification. PEUGEOT has made the changes in response to the recent overhaul of Government’s Plug-in Car Grant, which has been reduced to £2,500 and is now only available on new electric vehicles costing less than £35,000.
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Volvo Car UK proved the strength in depth of its model range and its service to customers by increasing its share of the UK new car market in 2020. Despite the unprecedented trading challenges presented by the Covid-19 pandemic, the brand achieved a 2.85% share of the total market, a significant improvement on its 2019 performance of 2.43%. Although volume was down, with 46,408 cars sold, the reduction was significantly less than the 29.4% decline recorded by the UK market as a whole. Volvo remains one of the fastest-growing premium car brands in the country, with its most popular model, the XC40, achieving the status of the UK’s best-selling premium SUV, with 25,023 sales in 2020. It was also the 10th best-selling car of all in the UK in 2020. Completing an all-SUV top three, Volvo’s next best-sellers were the mid-size XC60, with 8,235 sales, and the large XC90, with 5,270.
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The Mitsubishi Outlander PHEV has regained the top spot in the European plug-in hybrid sales charts with registrations across Europe from January to the end of October 2020 topping 22,262 (Source: Jato), over 1,000 units ahead of its nearest rival. With competition heating up and demand from PHEVS across Europe growing, the Mitsubishi Outlander’s reputation for reliability and efficiency still holds sway in the segment it effectively established since it launched the first generation Outlander PHEV in 2014. In the UK, sales of PHEVs have now topped 58,000 so far in 2020 with Outlander topping the SUV PHEV charts and still on the podium across all plug-in hybrid competitors, with 3,294 sales.
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Bentley Motors is announcing today full details of the new Bentayga Speed – the pinnacle of the Bentayga family – effortless performance, yet no compromise on luxury. Hand-built at Crewe, the Bentayga Speed combines the W12 powertrain and many of the models luxurious features as standard, including the Mulliner Driving Specification. Building on a long tradition of Speed models that was born with the Continental GT in 2007, the new Bentayga Speed maintains the performance credentials proved by its predecessor, which claimed the production SUV record at the grueling Pikes Peak International Hill Climb in 2018.
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Mitsubishi Motors in the UK has appointed David Rodriguez as its new Sales and Marketing Director. Mr. Rodriguez joined the business on June 1 and brings with him nearly two decades of invaluable industry experience to the role. Having worked for 11 years in a variety of senior roles at the Ford Motor Company and Mazda Motors UK, across their Sales, Operations, and Finance functions, David joined leading fleet-management company LeasePlan UK as Dealer Engagement General Manager, and in 2016 was promoted to Head of Remarketing with the role being extended to Head of Procurement and Remarketing by 2019.
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Volvo Cars sold 44,830 cars in May, down 25.5 per cent compared with the same month last year, as sales and showroom traffic trends in Europe improved and sales in China continued to grow. In the US, sales recovered quicker than expected as more states loosened restrictions put in place due to the coronavirus pandemic. In the January-to-May period, Volvo Cars’ global sales reached 208,479 cars, down 25.0 per cent compared with the same period last year.
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