Press release
337KB
november 24, 2014 - Volvo
Volvo Cars at the 2014 Guangzhou Motor Show China to be the cornerstone of Volvo Car Group’s global expansion
Volvo Car Group, the Swedish company owned by China’s Zhejiang Geely Holding, is committed to making China the centerpiece of its global expansion plans by establishing new manufacturing facilities and ensuring its most up to date models are manufactured in China and made available for sale both domestically and internationally.
China is poised to replace the US as Volvo Cars largest market in 2014 with sales of at least 80,000 cars, up from 61,146 in 2013, highlighting the company’s growing presence in the world’s fastest growing automobile market.
The premium segment of the car market in China is forecast to grow by 20 per cent this year. Volvo Cars expects to outpace this growth in 2014, indicating it is gaining market share from its competitors. It has a longterm goal of selling 200,000 cars a year in the country.
Volvo Cars underlined its long term commitment to China earlier this month by significantly expanding its manufacturing facility in Daqing, China.
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