Volvo sets its eyes at the premium segment, wants to be the BMW of Sweden

Under a new management, Geely Motors of China to be exact, Volvo has plans to chart a new course in its car making area that would take the Swedish automaker right into BMW territory. Stefan Jacoby is the newly appointed CEO in the new set up and he has indicated his plans to get the vehicle to be more up market and the main market to be the Chinese market.

At a meeting held at the Volvo Cars’ Gothenburg headquarters on Wednesday Jacoby mentioned to reporters “I’m very committed to bring Volvo to where it belongs, in the top league of the premium manufacturers…We cannot say, ‘just do what BMW is doing.’ We need to find our Swedish-based definition of what Volvo should deliver.”

Luxury buyers would sure desire a car that has the Swedish sport-luxury brand along with a grand design. It would be treat indeed for such car lovers to have this type o a car in their driveway. There is potential in the premium market as visualized by Volvo and their latest cars are sure going to target this segment with verve.

China already has a long-wheelbase car the S80L and there is big stake that they have in Volvo to further their interest in remaining the world’s largest car market.

China is turning out to be a fast market in the premium car sector also and their own market as well as world sales in this sector are increasing. It is for this reason that Volvo getting their loans from European Investment Bank and KBC Bank be making a wise decision to invent in this market.

There is Saab also which is gearing up for making more sales and therefore Volvo has to make its presence felt in the market is what Jacoby foresees.

Source: carscoop