Even if the Swedish automaker enjoys a healthy growth in the world’s largest auto market – China – the global situation is not actually painted in shades of pink.
The company has reported increased sales in its Swedish home market and rising sales across the European continent – the problem is that after the latest economic crisis the sales base is actually near a two decades low. Meanwhile, in the US – a key market for any carmaker with premium aspirations – Volvo has constantly lost market share, while all other rivals have steady increases.
“There is no second chance, of course. This has to work. We’re confident it will,” says Volvo CEO Hakan Samuelsson.
The new model, replacing the aging first generation of the SUV – on the market for the past 12 years – is ready to be presented to the public on August 26, with sales scheduled to start sometimes next year. The SUV is the first model coming from Volvo’s $11 billion strategy to make many models using a single platform and offer derivatives that include electric-powered variations. According to the Swedish carmaker’s CEO, the second-generation XC90 is also a stepping-stone in Volvo’s quest to build “more attractive cars” that would rival BMW, Audi and Mercedes-Benz.
Via Automotive News Europe