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China now Volvo's third-largest market: reports

AFP/The Local · 23 Oct 2010, 12:12

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

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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.

Story continues below…

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)

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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.
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