Volvo says it won’t disappear by 2014

Volvo says it won’t disappear by 2014

Volvo says it's not out of the auto game yet With the recent recession still on the minds of many, brand confidence has been a continuing concern for smaller market-share auto companies. Swedish automaker Volvo is no stranger to this reality, but claims that it will not be closing up shop.

 

With the recent recession still on the minds of many, brand confidence has been a continuing concern for smaller market-share auto companies. Swedish automaker Volvo is no stranger to this reality, but claims that it will not be closing up shop.

 

After being included in an article featured on 247wallst.com, CEO of Volvo North America John Maloney said that the brand would not disappear from the market by 2014 as predicted. According to the article (which predicted the same outcome for other companies, including additional automakers such as Mitsubishi), Volvo’s resources are insufficient, and with market shares under half a percent, they will be unable to compete with companies “that either produce high-luxury models like Mercedes-Benz or multiline giants like General Motors.”

 

 

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Contrary to these recent speculations however, Volvo says it plans to release four face-lifted vehicles for the coming 2014 model year, as well as four new four-cylinder engines. The new lineup is said to include the S60, XC60, S80, and XC70.

 

Maloney has said that Volvo will continue to work towards its target goals, increasing its marketing budget by 25 percent, as well as offering consumers 20 percent more in “competitive” incentives. Maloney also said customers won’t notice any difference between the new engines and the V6 mills, but was not willing to divulge output figures at the time.

 

Source: AutoGuide.com

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