Growth of China’s automobile market is key to Volvo’s ambition of doubling sales to 800,000 cars in 10 years.
The English People’s Daily Online quoted Ashvin Chotai, a London-based managing director of industry consultant Intelligence Automotive Asia, as saying, “China will be the biggest contributor to meeting the 800,000-unit global target.”
Volvo Cars is owned by Zhejiang Geely, which bought it from Ford last August for US$1.5 billion. Volvo aims to sell 250,000 automobiles in China by 2015 and will build its first Chinese assembly plant in the city of Chengdu.
Volvo currently makes its S40 and S80L models for China at a factory co-owned by Ford Motor and Chongqing Chang’an Automobile.