CEO: 'very difficult' for Volvo Cars to avoid loss
Published: 19 Dec 12 07:09 CET | Print version
Online: http://www.thelocal.se/45148/20121219/
The chief executive of Volvo Cars, which is owned by Chinese auto maker Geely, told a newspaper on Tuesday that it would be "very difficult" for the company to avoid making a loss this year and the next.
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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
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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.
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.