Volvo Car, owned by China’s Geely Holding Group, aims to sell 50,000 cars in China this year. The new target would mark an increase from slightly more than 30,000 cars sold in the country last year. Hit the jump to read the rest of the story.
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Richard Snijders, president and CEO of Volvo’s China distribution unit, made the forecast in comments to reporters in Beijing on Tuesday.
The new target would mark an increase from slightly more than 30,000 cars sold in the country last year. Sales in China rose 62 percent in the second-quarter, Volvo reported last week.
Geely, parent of Geely Automobile Holdings, took over Volvo from Ford Motor Co. in August 2010, marking China’s largest overseas auto acquisition.
In February, Volvo CEO Stefan Jacoby unveiled a plan to invest up to $11 billion globally in new product development and facilities over a five-year period.
