Volvo Sales Will Rise This Year, CEO Says

By | March 21, 2014
Volvo's sales are down over 20 percent so far this year, thanks to an aging product lineup and an ongoing struggle to maintain relevancy in the U.S. market. But CEO Hakan Samuelsson expects sales to start picking up over the next few months, and predicts sales will rise 5 percent overall this year. "It will be a tough year and a year of turnaround," Samuelsson told Automotive News. "But we have a new team, strategies and tactics in place." Among the new strategies is the debut of the new V60 sport wagon. With this introduction, Volvo is delving further into a segment which, although may not be huge in the U.S., is one of the automaker's specialties. The car promises plenty of cargo space for families while maintaining up to 38 mpg on the highway.
Volvo is also introducing a new generation of fuel-efficient four-cylinder engines starting next month, Samuelsson revealed. This strategy could help Volvo's U.S. sales grow to 65,000 units this year. After these changes, the next step for Volvo's growth is the introduction of a redesigned XC90 crossover, set to arrive in the U.S. in early 2015. This model, like many in Volvo's lineup, is in sore need of a makeover, as it hasn't been fully redone in a decade. Volvo is also planning a high-performance plug-in hybrid model down the line. Source: Automotive News