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

A lot of us know Singer Vehicle Design and their signature work of reimagining Porsche 911s, and making them look like hot rods from the 70s. They are not alone...
by - August 20, 2017
August 17, 2017 is a sad day for the Dodge Viper, its fans, enthusiasts and its admirers. It is the day when the last Dodge Viper rolled off the assembly...
by - August 20, 2017
A few months ago, Mercedes-Benz promised that they will be treating everyone to a “big surprise” during the Monterey Car Week. And true enough, many of us were stunned as...
by - August 19, 2017
McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 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