Volvo targets 10% increase in Chinese sales

Sweden-based Volvo Group expressed interest in increasing its car sales in China by more than 10% this year as the country’s auto market has been somewhat boosted by the government’s stimulus policies. The company expects its car sales in China to grow “way over” 10% this year, Volvo Car China Chief Executive Alexander Klose said, as the company now has more confidence in the Chinese auto market than at the end of 2008. Meanwhile, Ford Motor Co. said it is looking for potential bidders for Volvo Cars and has named among possible bidders Chinese automaker Geely Automobile Holdings Ltd., two other Chinese companies and a European-based consortium of investors. (March 10/13/26, 2009)