Volvo wants to regain its reputation

The new CEO of the Swedish company, Stefan Jacoby, reported that the brand will once again be recognised and could even become a Premium option for consumers. However, he is aware that the first step to achieving his goal is to position Volvo cars among the favourites in the Chinese market.

The executive hopes that the support of the new management will allow the Swedish manufacturer to boost its sales in China. Therefore, the aim is to use that base to recover the identity the company lost over the years with Ford.

Jacoby also mentions that the introduction of a luxury sports car, characterised by an attractive and innovative design, would benefit the company, since the market in this category is proving generous for manufacturers.

For that reason, Volvo will not hesitate to ask for a loan from the European Investment Bank and KBC Bank; so it is likely that in a couple of years the development of a sports car that will have to renew the essence of the brand will be announced.

Source | Carscoop