Volvo Cars expects sales to increase by 50% in China next year

According to Reuters, Volvo’s executives reiterated their sales target in China this year, and it is expected that sales in China will increase by 40-50% in 2012.

At the Guangzhou Auto Show opened on November 21, Richard Snijders, president and CEO of Volvo Cars China Distribution, said that Volvo’s sales volume in the Chinese market will increase from 30,000 last year to 4.8 to 50,000 vehicles this year; sales will be expected to be realized next year. Up to 40-50% increase.

In the first half of 2011, Volvo Cars sold 21,000 vehicles in China, an increase of 36% year-on-year, while the global sales volume was 230,746, an increase of 20.3% year-on-year. The sales growth of Volvo Cars in China in the third quarter was even as high as 67.8%, of which 4,765 were sold in September. According to the previous strategic goal of Volvo Cars, the sales volume in China will reach 200,000 units in 2015, and the number of dealers will exceed 200.

Volvo plans to double its annual sales to 800,000 units by 2020 and will challenge luxury car leaders BMW, Volkswagen Audi and Daimler Benz. In the next five years, Volvo will invest 11 billion U.S. dollars in major markets represented by China and will establish a factory and an R&D center in Chengdu, China.