Rumblings of such a vehicle stirred after the brand was sold by Ford to Chinese company Zhejiang Geely Holding Group Co., but Stefan Jacoby – then CEO – insisted it would be an incongruous product for Volvo. But Hakan Samuelson, the current CEO, replaced him after Jaocby suffered a mild stroke last year. Despite that, it doesn’t seem as if the attitude toward large luxury has changed.
Instead the brand unveiled its V40 hatchback over the weekend, which debuted in Europe in 2012 and will be sold in China later this year.
Volvo is honing its focus on the Chinese market as are many other European luxury brands.
It and Geely are co-developing a compact car platform, which is China’s largest market segment. Meanwhile, Volvo is also increasing its retail presence from 150 stores to about 250 over the next couple of years.
Ambitious as it may seem, the brand is also still aiming to reach 200,000 unit sales in the country by 2015, despite being on a sales downswing last year with about 42,000 units sold.
[Source: Automotive News]
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