• Sweden's news in English
 
CEO: 'very difficult' for Volvo Cars to avoid loss

CEO: 'very difficult' for Volvo Cars to avoid loss

Published: 19 Dec 2012 07:09 GMT+01:00

The company's target of breaking even on an operational level this year would be "very, very difficult to reach," Håkan Samuelsson told the Financial Times, adding that for next year, "the target is still to break even, but that will also be very tough."

Speaking to the press for the first time since taking the helm of the company in October, Samuelsson also told Swedish business daily Dagens Industri that Volvo expected to sell "in the order of" 400,000 to 410,000 cars next year.

Volvo sold 383,000 cars in the first 11 months of this year, which was six percent fewer than in same period last year.

Chinese parent company Geely exports vehicles to more than 40 developing countries in eastern Europe, Latin America, the Middle East, Africa and Southeast Asia.

It also operates assembly plants in several countries including Russia and Indonesia.

It bought Volvo Cars from Ford in 2010, but the iconic Swedish brand has since seen its market share decline and profits dwindle.

In the first 11 months of the year, Volvo's sales in China fell at a faster pace than in its other markets, even though the company had said it would make the country a priority.

AFP/The Local/dl

Follow The Local on Twitter

Your comments about this article

04:10 December 20, 2012 by benkku
Do I wonder?

No. On my V70 the control panel went broken. I asked the local dealer about costs to fix it, he told that it is Euro 1300. After a quick check in the internet I found, that this is a common problem and the costs to fix it are between 290 and 390 Euros when done in Germany.

I wrote to Volvo about this and did not get any answer. They simply did not care.

So: I am no Volvo-customer any more. I am sure, I am not the only one who learned about the customerrelations of Volvo and took the consequences.
19:03 December 21, 2012 by Escort
Volvo's strategy makes no sense. Their cars, particularly the V40, are overpriced as they are now trying to compete directly with BMW and Audi. This could be a dangerous strategy in the longer term as the brand doesn't really have the kudos to compete with German luxury marques and they run the risk of alienating customers who would normally buy mainstream brands like VW and Ford.

As Volvo have now axed the C30 (I think today is the last day of production) they desperately need an AFFORDABLE sub-V40 car to compete with the Audi A1/Polo/Mini/Fiesta. As I get the feeling that they are more interested in the lucrative business sector than private buyers like myself I will be buying Ford or Honda instead of Volvo next time. A shame as I have been a satisfied Volvo customer for 18 years.
Today's headlines
Christian Democrats: Cut refugee benefits
Christian Democrat leader Göran Hägglund. Photo: TT

Christian Democrats: Cut refugee benefits

The Christian Democrats have announced proposals to reduce the cost of the asylum process in Sweden, arguing that cuts are necessary to maintain "the legitimacy" of the system. READ  

Israel rejects Sweden meet: report
Swedish Foreign Minister Margot Wallström. Photo: TT

Israel rejects Sweden meet: report

Israel's Foreign Minister Avigdor Lierberman has refused the opportunity to meet with his Swedish counterpart Margot Wallström in January, according to Israeli media reports. READ  

Sweden ranked fifth best country for business
Central Stockholm in the winter. Photo: Shutterstock.

Sweden ranked fifth best country for business

Forbes magazine has ranked Sweden as the fifth best country in the world for business. READ  

Explosion rocks outer Stockholm suburb
Damage from the explosion. Photo: TT

Explosion rocks outer Stockholm suburb

A blast shook the Stockholm suburb of Rinkeby during the night, causing significant damage to a local shopping centre. Police are still without any official suspects. READ  

Armed Forces to speak out on SAS 'near miss'
Sweden's Armed Forces will speak on Thursday. Photo: TT

Armed Forces to speak out on SAS 'near miss'

Sweden's Armed Forces have called a press conference to share their own version of events, after a Russian aircraft is alleged to have flown dangerously close to a plane operated by SAS last week. READ  

Karlskrona child murder
Uncle charged with 8-year-old's death
The Blekinge District Court. Photo: TT

Uncle charged with 8-year-old's death

A man and a woman have been formally charged for fatally beating an 8-year-old girl - a child murder case that has dominated the headlines in Sweden all year. READ  

Sweden and Romania to discuss begging surge
A Roma beggar in Umeå last week. Photo: The Local

Sweden and Romania to discuss begging surge

Romania's Social Affairs and Labour Minister Rovana Plumb has accepted an invitation to Stockholm in January to discuss the rising number of Roma people begging in Sweden's major towns and cities. READ  

The Local List
Eight things to do when it gets dark in Umeå
The sun sets early in Umeå, but luckily there is still plenty to do. Photo: Umeå2014

Eight things to do when it gets dark in Umeå

After a recent trip to the wild north, The Local's Oliver Gee recommends eight things to do in Umeå when the sun isn't shining. Which at this time of the year, is almost all day. READ  

SAS plane 'near miss' fears blamed on weed
Mikhail Vanin, Russia's ambassador in Copenhagen. Photo: TT

SAS plane 'near miss' fears blamed on weed

Russia's ambassador to Denmark has made light of Swedish concerns over a Russian military jet's alleged near-miss with a passenger plane, suggesting Swedish authorities may have smoked too much cannabis. READ  

Video: Swedish sounds
Swedes get their mouths round tongue twisters
Can you get your tongue around these tongue twisters? Photo: Shutterstock.

Swedes get their mouths round tongue twisters

'Tis the season for some silly news stories. The Local took to the streets of Stockholm to see how well people could pronounce some of the nation's top tongue twisters. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Society
Interview: The Local chats with Melinda Gates
Society
VIDEO: Stockholmers try out some Swedish tongue twisters
Society
Eight things to do when it gets dark in Umeå
National
Inside Sweden's first 'light therapy' school
Finest.se
Gallery
People-watching: December 17th
Blog updates

17 December

An Exclusive Interview with Melinda Gates (Stockholm in my American Heart) »

"This week Nobel peace Prize Winner Kailash Satyarthi urged the world to “globalize compassion”, as he..." READ »

 

14 December

A lot to learn (Blogweiser) »

" I went to the new Starbucks at the swanky Stureplan intersection in central Stockholm. They have a lot..." READ »

 
 
 
Estelle through the years
Gallery
Princess Estelle through the years
Society
Why are there so many 100-year-olds in one Swedish town?
Society
Is it time to better celebrate Sweden's diverse identity?
Gallery
Property of the week: Huddinge
National
Why has The Local got a new logo?
National
CATCH UP: Russian plane in Baltic near-miss drama
Lifestyle
How my compass drew me to Sweden
National
The man whose memory you need to remember
Gallery
People-watching: December 13th - 14th
Sponsored Article
How to get your own office anywhere in the world
Politics
'Our party will stand alone': Stefan Löfven
Society
The Local chats to Ruben Östlund, director of Golden Globe nominated Force Majeure
Lifestyle
Ten things to know before a Swedish party
Lifestyle
What's On in Sweden: December 12th to 19th
Gallery
IN PICTURES: The 2014 Nobel Banquet
National
The Local's guide to the Nobel Prizes 2014
Education
Introducing... Education in Stockholm
Society
The Swedish Christmas market with a twist
Lifestyle
Why do so many Swedes have tattoos?
Society
Get 20% off Swedish Christmas decorations
National
Dewani family: We only heard half the story
Business & Money
Business in Stockholm: 'efficiency is money'
Gallery
Property of the week: Östermalm
National
Meet the Swedes hosting festive feasts for 'lonely' guests
Gallery
TIMELINE: Swedish honeymoon killing murder trial
Gallery
People-watching: December 7th
Gallery
IN PICTURES: What's it like to fly planes in Sweden?
National
Submarine hunters 'robbed' of reward cash
National
The Local's Countdown to Christmas
National
'Dangerous' USB charger recalled in Sweden
Gallery
IN PICTURES: Sweden's King and Queen wrap up France tour
National
Analysis: Should Snowden get asylum in Sweden?
National
Swedish schoolboy in female saint role row
Gallery
IN PICTURES: Sweden's political crisis unfolds
Gallery
People-watching: December 3rd
National
What happened to Sweden's ice bucket cash?
Lifestyle
Top Swedish songs of the month
National
Why a child footballer has a huge legal bill
Lifestyle
Top ten Swedish Christmas presents
Sponsored Article
SIS: the thinking behind globalised learning
Sponsored Article
Introducing... Family life in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

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 Denmark

More news from Denmark at thelocal.dk

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

795
jobs available
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
psdmedia.se
The Local Spain is hiring!
The Local is seeking a new editor for our site in Spain to join our growing team of internationally-minded, driven, ambitious and clued-up journalists.
Details and how to apply
Counselling and Psychotherapy in English
Sometimes living in another culture can cause stress, confusion and feelings of sadness and loneliness. Talking to a professional psychotherapist/counsellor might help you. I am a UKCP Reg. psychotherapist. My practice is in Södermalm, Stockholm.
Contact me to discuss your options