According to the Wall Street Journal reported on February 9, under the leadership of the new Chinese management, Volvo Car Corporation, a Swedish automaker that was still in trouble just a few years ago, is now making a comeback. The company expects sales to record And is actively meeting the surge in demand in the US market to challenge the leading position of German automakers in the global high-end automotive market. hand sewing Decorative pendant NINGBO JINCHEN CRAFTS GIFTS CO.LT , https://www.jinchenlovecrafts.com
Since being acquired by Zhejiang Geely Automobile Holdings Co., Ltd. for $1.8 billion in 2010, Volvo Cars has boosted demand through innovative models, which has led to a significant increase in sales in the US and China. Volvo has cut some of its costs by exporting some models in China to the world, and has also launched a large-scale investment plan to increase investment in technology and face up with BMW, Mercedes-Benz and Audi.
Volvo's efforts are paying off. The company reported that 2016 net profit rose 67% to 7.5 billion Swedish kronor ($ 843 million), with revenue of 180.7 billion Swedish kronor, up 10% year-on-year. The company's global sales in 2016 increased by 6% to 534,332 units, making it expected to achieve an annual sales target of 800,000 units by 2020.