Volvo to overhaul entire model range in next 5 years

Article by Christian A., on November 21, 2014

Volvo Car Group plans to fully revamp its model range in the next five years to turn around its fortunes United States and sell over 100,000 cars annually in the country. The carmaker has seen its sales jump 16 months in a row thanks to strong demand in China and more modest growth in Europe. Volvo, however, continues to suffer in the US, where its sales have been dropping in the past decade.

The now Chinese-owned Volvo said it expected to achieve its sales target "in the medium term" and sought to dispel concerns about its future in the US. Volvo chief executive Hakan Samuelsson expressed confidence that Volvo can compete with a more focused offering and with just one core engine family. "Volvo is in the US to stay.

Not only will we stay, we will prosper," Samuelsson said in a statement. He noted that the carmaker used to sell over 100,000 cars annually in the US. He remarked that Volvo’s initial aim would be return to that sales level and eventually surpass it in the longer.

The carmaker is forecasting sales of around 60,000 in the US this year. It is trying to sell enough vehicles globally that would allow it to support the billions of dollars in investment in new vehicles that would be vital in surviving and staying afloat in the auto industry. The last time Volvo sold over 100,000 cars in the US was in 2007.

Topics: volvo

If you liked the article, share on:

Comments

Recommended

Audi’s intention to bring out the Renn Sport Racing version of the Q5 was made clear when it unveiled the Audi SQ5 at the 2017 Detroit Motor Show early this...
by - July 22, 2017
Kia’s Sorento midsize sports utility vehicle is reaching its mid-cycle for the 2018 model year. Thus, its fans, enthusiasts and satisfied customers are expecting the Sorento to receive an update...
by - July 22, 2017
The Lotus Evora Sport 410 astonished the world after arriving as the more powerful and lighter edition of the already impressive Evora 400. Now, Lotus Cars is throwing in another...
by - July 22, 2017
The Europe-bound WRC hatch developed by Toyota and Gazoo Racing team will be limited to just 400 examples as reported by AutoCar this week. Otherwise known as Gazoo Racing Masters...
by - July 21, 2017
Even cops get excited when they’re assigned to drive the best cars in the market. In Austria, police officers drive around in a Porsche 911 Carrera while in Milan, authorities...
by - July 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries