Volvo to add more than 10,000 jobs by 2020

Article by Christian A., on November 28, 2011

For Volvo Car Corp. to attain its goal to sell 800,000 units annually by 2020, it will have to add 10,000 more jobs. Automotive News Europe interviewed Volvo CEO Stefan Jacoby who said that its workforce will then increase to 33,000 – 35,000 employees. Volvo presently has 24,000 employees throughout the globe.

There are about 16,000 workers in Sweden, 5,000 in Belgium, 1,000 in China and 2,000 in the other markets. The majority of the jobs that will be added would be in China where Volvo aims to reach annual sales of 200,000 by 2020.

In comparison, Volvo sold 48,000 to 49,000 this year and 31,000 units last year. Jacoby revealed that Volvo will open a China factory in Chengdu in 2013 that can produce up to 150,000 units and has around 3,000 employees.

Volvo is hopeful that the Chinese government will grant permission for the automaker to build a second plant in China in early 2012.

Jacoby clarified that Volvo’s sales didn’t drop due to declining economic confidence. He divulged that Volvo’s order books are full until the spring of 2012.

Jacoby said that he anticipates Volvo to sell 430,000-440,000 units worldwide this year. Volvo had global sales of 374,000 units in 2010.

Jacoby said that Volvo is lucky that its largest markets in Europe are Scandinavia and Germany and that it isn’t relying on the markets in southern Europe that had been hit hard by the crisis and whose car sales are declining. [source: Autonews]

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