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Volvo reported net sales of 98.7 billion Swedish kronor in the third quarter of 2019, up 6.5 per cent from a year earlier. After adjusting for exchange rate movements, net sales increased by 2%. The adjusted and reported operating profit was 108.9 Swedish kronor (about 8 billion yuan), an increase of 6.2% over the same period last year, and the operating profit margin reached 11%.

On October 16th, Volvo released its 2040 Environmental Plan, which aims to develop the company into a global zero-load benchmark enterprise by 2040. As a first step towards that goal, the company plans to reduce carbon emissions by an average of 40 per cent over the life cycle of each vehicle between 2018 and 2025.

In terms of specific implementation, Volvo said that in addition to the full implementation of the electrification strategy, it will also take measures such as global manufacturing network, business operations, supply chain and the recovery and reuse of raw materials to meet the challenges of carbon emissions. At present, Volvo also has accurate plans, such as achieving 50% of sales of pure electric models by 2025.

As an important part of the 2040 environmental plan, Volvo released its first pure electric vehicle, the XC40 Recharge, on the day of the announcement of the 2040 environmental plan. The new car is based on XC40, equipped with 78kwh battery pack, one motor on each front and rear axle, the comprehensive power of the system is 305kw, and the comprehensive battery life is 400km.

XC40 Recharge as Volvo's first pure electric model, the new car is based on CMA module architecture. It is understood that the CMA module architecture is an intermediate vehicle basic module architecture jointly developed by Volvo and Geely. Under the CMA module, the wheelbase, length, width, height and other parts of the vehicle can be changed, suitable for a variety of body forms and sizes.

In fact, Volvo announced plans to "end pure internal combustion engine cars" as early as 2017, when Volvo planned to launch only pure electric and hybrid vehicles from 2019.

Volvo has become a traditional carmaker around the world that popularizes plug-in hybrid technology. In the next five years, Volvo plans to launch five new all-electric models, which will account for 50% of Volvo's total car sales by 2025.

Volvo sold 507704 vehicles worldwide in the first three quarters of 2019, up 7.4 per cent from a year earlier. Volvo sold 64536 cars worldwide in September, up 6.5 per cent from a year earlier.

In the Chinese market, Volvo sales totaled 109512 vehicles in the first three quarters of this year, up 13.8 per cent from a year earlier. Volvo sold 14920 cars in September, up 13% from a year earlier.

Martin Lundstedt, President and CEO of Volvo, said, "due to the continued good level of activity and fleet utilization among customers, our service revenue remained stable during the quarter. On the other hand, the demand for new cars is declining and we are in a difficult market environment.

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