Volvo posts 34% rise in MidEast car sales

Swedish car giant Volvo has posted a 34 percent increase in sales in the Middle East so far in 2012.

The car maker said its growth had been "significant" across the Gulf with sales in Kuwait up 73 percent, Qatar (48 percent), and the UAE (15 percent) compared to last year.

Its performance in Egypt was the best in the region with sales growth more than doubling over the year-earlier period, Volvo said in a statement.

It added that the growth had been driven by the availability of Volvo's award-winning XC and S models.

"We are very pleased with Volvo's performance in the Middle East. The latest figures announced is a testament towards the dedication and commitment we have to this region and our dealers," said Emre Karaer, sales and marketing director of Volvo Cars Middle East.

"We aim to further increase market share through our five year ambitious plan that guarantees Volvo to grow magnificently in the market and launching a range of superior automobiles."

He said the total industry volume in premium segment cars is approximately 20 percent which Volvo is exceeding in the Middle East.

In 2013, he said Volvo Cars Middle East will be taking "big strides" in the market with the launch of the Volvo V40.