Volvo aims to sell 50.000 cars in China this year

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Volvo Car, owned by China’s Geely, aims to sell 50,000 cars in China this year , a senior executive said on Tuesday. Richard Snijders, president and CEO of Volvo’s China distribution unit , made the forecast in comments to reporters in Beijing. The new target would mark an increase from slightly more than 30,000 cars sold in the country last year.

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Geely, parent of Geely Automobile Holdings , took over Volvo from Ford Motor in August 2010, marking China’s largest overseas auto acquisition.

Volvo chief executive Stefan Jacoby had in February unveiled a plan to invest up to $11 billion globally in new product development and facilities over a five-year period.

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Via: EconomicTimes.

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