Volvo‘s CEO Stefan Jacoby is calling for a new focus for Volvo, and wants to see the Swedish automaker abandon its position as a premium brand meant to compete with Audi, BMW and Mercedes-Benz.
“Let’s ditch this talk about premium,” said Jacoby while speaking to Autocar magazine. “It sounds like a pricing strategy and it’s got an expensive ring to it. We need to focus on elegant Scandinavian simplicity, our own unique identity, and not copy our competitors.”
For years, Volvo has enjoyed its own cachet, particularly in the United States, where it became synonymous with upper-middle-class suburbia, but sales have fallen to the point where Jacboy is alarmed.
“We have lost ground in the US,” explained the Volvo chief exec. “We are at the bottom, looking up.”