Volvo aims to double market share in China

Gasgoo.com (Shanghai November 13) - Volvo expects to double its market share in China in the next five to seven years, Volvo Cars China Senior Vice President Lars Danielson told the National Business Daily. According to Mr. Danielson, Volvo's current Chinese market share is around five percent; the company's goal is set squarely at around ten percent.

To this end, Volvo is taking steps to diversify and expand its product lineup in the country. Earlier this week, the manufacturer's first domestically produced SUV, the XC60 (pictured), made its official market debut. SUVs are a rapidly growing segment in China. Volvo expects over 45 percent of its future sales to come from SUVs. The XC60 will be joined by the XC90, which will make its debut next year. The XC90 will be built on Volvo's independently engineered SPA platform, which is expected to be used the majority of the manufacturer's future vehicles. Volvo Board Chairman and President Håkan Samuelsson previously stated that production of the SPA will be done at its factory in Daqing, Heilongjiang, which will also manufacture a brand new luxury sedan model.

Volvo is especially proud of its global production system. A representative explains that domestic production of the XC60 and future models will be done in line with rigorous international standards.

Volvo's target for this year is set at 84,800 sales. The figure represents 40 percent year-on-year sales growth. Analysts predict that Volvo will most likely complete this target. In addition to completing its sales goals the manufacturer is committed to strengthening its brand image.