Volvo cars CEO, Stefan Jacoby has revealed the Chinese owned Swedish car manufacturer expects a double-digit rise in unit sales this year.
Jacoby said Volvo, which was acquired from Ford by Zhejiang Geely Holding Group in a 1.8 billion USD deal in March this year, will sell 380,000 cars worldwide in 2010, 13% up from the 335,000 cars sold in 2009.
Looking ahead to 2011, Jacoby speaking with Automotive News Europe said he expects recovery for Europe, where overall new car sales were down 3.5% to about 9 million units in the first 8 months of this year.
The decline is due mainly to the end of the various government funded scrappage incentives that provided subsides to people who traded in their old cars for newer, more fuel-efficient models.
Jacoby said sales will stabilize in the near term and “we will see a steady growth,” adding: “Due to Volvo’s product offerings, we will have good opportunities for growth not only in China but also in our core markets in Europe.”
Jacoby was speaking at the Paris auto show where Volvo launched the V60 estate which goues on sale in November and which Volvo forecast to make sales of 50,000 units with 90% of those coming from Europe.