Volvo Makes Bold Announcement To Be ‘Leading Player’ By 2025

Thu 7th Jun 2018

Swedish motor manufacturer Volvo is making bold plans to be a leading player in the industry by 2025.

Volvo has enjoyed a stellar year so far in 2018, with the XC60 picking up a long list of Car of the Year awards, whilst the brand overall has been recognised as a leader in car safety technology.

The Swedish brand is making big moves in the EV market, and also great strides in the driverless autonomy technology.

“Our customers’ expectations are changing rapidly. This means that Volvo Cars is also changing rapidly. These initiatives will help transform Volvo from being purely a car company to being a direct consumer services provider,” said Hakan Samuelsson, president and chief executive of Volvo Cars.

Volvo is working closely on its premium performance electric car brand, Polestar and also owns a 30% stake in Lynk & Co.

“This paves the way for Volvo Cars to continue growing fast into the middle of the next decade,” said Samuelsson.

“The company has been transformed since 2010 into a global premium car company. Now it is time for this transformation to be turned into a period of sustained profitability in line with other premium brands.”

Whilst 2018 is looking to be a huge year for the Swedish brand, it will do well to match a fourth year of record breaking sales which it achieved in 2017. Volvo achieved global sales of 571,577 cars last year, with 46,139 of those sold in the UK. This year Volvo has already sold 19,060 in this country, with much of the sales based around the success of the XC60.