• Sweden edition
 
China now Volvo's third-largest market: reports
Geely's Li with Volvo France head Wim Maes at the Paris Motor Show, October 3

China now Volvo's third-largest market: reports

Published: 23 Oct 2010 12:12 GMT+02:00
Updated: 23 Oct 2010 12:12 GMT+02:00

China has become the third-largest market for Volvo following its acquisition by Chinese automaker Geely, state media reported Saturday.

Alexander Klose, head of Volvo Cars China, made the comments at a trade show in the northern city of Tianjin, according to the official Xinhua news agency.

He said sales of the Swedish brand's vehicles had soared in the world's largest auto market in 2010.

"As of the end of September, Volvo's global sales volume was up 12.5 percent year-on-year, compared with a 52 percent year-on-year rise in China," he was quoted as saying.

Volvo also expanded its dealer network to 81 Chinese cities in 2010, he said, adding he was confident of seeing huge growth in the nation's auto market in the next five years.

The struggling Swedish brand -- known for its sturdy, family-friendly vehicles -- was acquired from US auto giant Ford by China's Geely in August for $1.5 billion.

Li Shufu, head of Geely, said in a September interview with the Wall Street Journal that he hoped to build three Volvo assembly plants in China that would produce up to 300,000 autos a year for sale in the Asian nation.

Volvo has joined a long list of car makers trying to cash in on China's vast auto market, which overtook the United States last year to become the world's largest.

On Friday, German automaker Daimler said it planned to invest €3 billion ($4.2 billion) in China by 2015 to boost production of Mercedes-Benz cars.

AFP/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

13:54 October 23, 2010 by Keith #5083
There will probably be those who will doom-say that this is bad news…no Swedish jobs in China, etc.etc. BUT, new investment and the dynamics of new larger sales will all have a 'knock-on' effect to revitalise the brand, introduce new models, recapitalise the company at home and abroad.

The global sales figures increase year on year are quite impressive for this past 12 months.

Good Luck...Volvo(Geely. Rise again and conquer!
03:32 October 25, 2010 by 2394040
And I thought that my home nation of the USA was the only fool's paradise on the planet. Guess there's at least one more!
17:17 October 25, 2010 by Keith #5083
Yep.Guess so. 'spose that's why Ford sold it, huh? Or could it possibly be that under Ford management sales were dropping? Nah! Couldn't be, huh?

Mind you, there's probably something to be said for massive government help to save car industries in your paradise, as opposed to a man like Li Shufu and his PRIVATE (i.e. not state owned) company Geely doing it. Maybe Glenn Beck or Sarah Palin would comment.

It doesn't seem to matter that much whether it's owned by a USA company or a Chinese company...at least the Chinese definition of paradise increases sales.
Today's headlines
Sweden scraps 'new start zones' after EU input
Integration Minister Erik Ullenhag visits a school in Tensta, one of the neighbourhoods mentioned when he and his colleagues first floated the new start zone proposal. File: TT

Sweden scraps 'new start zones' after EU input

Sweden has abandoned a plan to ease taxes for small companies in blighted areas after the European Commission challenged its legality. READ () »

'Easter eggs an invitation to spread germs'
A typical Swedish Easter egg. Photo: Jessica Gow/TT

'Easter eggs an invitation to spread germs'

A Swedish microbiologist has warned that traditional Swedish Easter eggs laden with candy are an open invitation to the spread of bacteria and viruses. "Is this really a good idea?" he asked. READ () »

Jammed truck snarls Stockholm rush hour
Photo: Anders Wiklund/TT

Jammed truck snarls Stockholm rush hour

PICTURES: A truck got wedged inside a tunnel in central Stockholm on Thursday, with authorities concerned the accident may have damaged cables in the tunnel's ceiling. READ () »

Kids in Victorian garb mark Swedish Easter
A Swedish Easter witch holding daffodils. File photo: TT

Kids in Victorian garb mark Swedish Easter

In India, I'd notice Easter only from the traffic jam outside the churches, but here witches, egg hunts, and feathers mark the Christian holiday. The Local's Deepti Vashisht brings you the various shades of Swedish Easter. READ () »

Swedish MP ordered chemtrail probe
Chemtrails?: Shutterstock.

Swedish MP ordered chemtrail probe

A Swedish MP who launched an official government investigation into the existence of chemtrails tells The Local why he thinks Swedes deserve the truth, even if it may leave some conspiracy theorists unsatisfied. READ () »

PM pleads ignorance of Vattenfall's Nuon bid
Fredrik Reinfeldt answers the constitutional affairs committee's questions. Photo: TT

PM pleads ignorance of Vattenfall's Nuon bid

Sweden's prime minister on Thursday said Vattenfall itself, not its owners the Swedish state, had responsibility for the loss-making Nuon deal. READ () »

'Kockums submarine raid may be illegal': lawyer
Photo: TT

'Kockums submarine raid may be illegal': lawyer

A Swedish lawyer says the Swedish military may have broken the law when it raided the Malmö premises of German defence giant Thyssen Krupp. READ () »

Good weather could blight Easter traffic
Easter traffic two years ago on the E4 motorway. File: Jessica Gow/TT

Good weather could blight Easter traffic

Traffic experts have cautioned Swedes heading to the countryside for what should be a sunny Easter, warning that the most serious accidents often take place when the weather is clement. READ () »

Saab offers Gripen lease to Malaysia
Jas Gripen jets in flight. File photo: TT

Saab offers Gripen lease to Malaysia

Swedish defence giant Saab has offered to rent out fighter jets to Malaysia. READ () »

What's On in Sweden

What's On in Sweden

Check out what's happening with The Local's guide to the main attractions and events in Stockholm, Gothenburg and Malmö - in association with DoToday. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
Society
Swedish supermarket Ica pulls contested Easter commercial off air
Kungahuset
Society
Swedish royals set baptism date for princess
finest.se
Gallery
People-watching April 16
Politics
Who's the prime minister's heir?
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Advertisement:
Private
National
Flash mobs hug it out across Sweden
Finest.se
Gallery
People-watching April 11-13
TT
Politics
Swedes to give six-hour workday a go
TT
Society
Aussie choir member wows Abba in Sweden
YouTube
Society
Stockholm magic a surprise YouTube hit
Fastighetsbyrån
Society
Gallery: The Local's Property of the Week
Private
Society
Swedes find 200-year-old gravestone in living room
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Deepti Vashisht
Features
Deepti Vashisht dissects the magic of Sweden's personal ID number
Shutterstock
Society
Ten signs you've been in Sweden too long
Society
Jimi Fritze heard every word when doctors discussed taking his organs
Society
A Swedish farmer explains why the new bestiality ban is 'pointless'
ESL
Sponsored Article
Learning Swedish the easy way
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

754
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com