Sales increased 1.2 in US for Volvo in 2012 with the United States being the brand’s largest market.
Volvo sold 421,951 cars in 2012, increasing sales in the US by 1.2 per cent over 2011. While the US increase may seem small overall, certain other markets saw big improvements. Volvo controlled one fifth of the market in Sweden though sales did decrease slightly there.
Another big development came in late 2012 when Volvo announced its new President and CEO on October 19th. Håkan Samuelsson replaced Stefan Jacoby, who left the company. Along with its new president, Volvo is attempting to vamp up its future with new product development technologies.
A big investment by Volvo in Scalable Product Architecture and Volvo Engine Architecture should reduce costs in the long run and increase production. Scalable Product Architecture, or SPA, will focus on development of future Volvo models that will share parts as well.
Volvo Engine Architecture, or VEA, will run on a four-cylinder engine platform. This platform though will be utilized in conjunction with other technologies such as electric hybrid technology. The goal of the VEA range of vehicles is to produce more efficient, more powerful vehicles than today’s larger displacement engines.
Some of these new developments could perhaps be taking place at Volvo’s Shanghai, China business plant. Volvo continued to expand operations in Shanghai in 2012 where the company will pursue product design and development, and support functions among other roles. As part of its new strategy, there has been continued hiring of new employees with the end goal for the time being is a new manufacturing plant in Chengdu, China. Volvo hopes to have this new plant running by mid-2013. Also in conjunction with its investments in new product development technologies is a new vehicle plant in Gothenburg, Sweden that should also be finished by mid-2103.
Overall, 2012 has seen Volvo compete as an innovator in electric technologies for existing models as well as the introduction of new models. The Volvo V-60 Plug-in Hybrid debuted in the fall of 2012 as the world’s first diesel-powered, plug-in hybrid vehicle. Volvo also introduced the new V40, Volvo’s attempt at a premium hatchback primarily aimed at competing in Europe. The V40 is also in the running for European Car of the Year, which will be announced in March.
About Steingold Volvo:
Steingold Volvo (http://steingold.com) is Rhode Island’s only exclusive Volvo dealer. A family-owned and operated business since 1934, Steingold Volvo stands to deliver premium quality services and sales to its customers through its extensive line-up of new and used Volvo models. Steingold Volvo also houses Parts and Service departments which will work to satisfy any and all consumer needs as quickly as possible.
