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Volvo gears up to play with big boys
by Staff Writers
Stockholm (AFP) Jan 8, 2016


Swedish carmaker Volvo, owned by the Chinese Geely group, said on Friday it had turned the corner towards becoming a major international player as it posted record unit sales.

Volvo said it had sold over half a million cars in 2015, 503,127 exactly, its highest annual sales figure ever, representing a rise of eight percent over the previous year.

The sales data mark the end of the first stage of Volvo's recovery, begun after it emerged from a loss-making period in 2013.

"Volvo is about to enter the second phase of its global transformation. Once completed, Volvo will have ceased being a minor automotive player and taken its position as a truly global premium car company," company chief Haakan Samuelsson said in a statement.

"More records will tumble in coming years," he said.

Volvo has made no secret of its ambition to compete head-on with leading global high-end brands Audi, BMW, Mercedes-Benz and Jaguar.

Both Audi and Mercedes-Benz maker Daimler reported Friday record sales of over 1.8 million vehicles last year.

hh/gab/jh/rl

VOLVO AB

BAYERISCHE MOTOREN WERKE AG

GEELY AUTOMOBILE HOLDINGS

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