Volvo's China sales up 82% in May
Updated: 2011-06-08 17:52
Swedish automaker Volvo saw its unit sales in China surged 82 percent in May thanks to its bond with Chinese owner Zhejiang Geely Holding Group.
The company sold 4,019 cars in China in May, its third largest market after the United States and Sweden, MarketWatch reported.
Volvo has proven to be right to have Geely Group as the new owner, Xinhua News Agency cited Volvo Car Corp. President and CEO Stefan Jacoby as saying.
"We will build new plants in China, with new plants, new people and all the new products," Jacoby said. "There are no old models, we will produce all the new models and as advanced as in Europe."
Volvo sold a total of 41,465 units worldwide in May, up 42% year-on-year. Sales in the US and Sweden increased 58% and 44%, respectively.
Volvo was acquired by Geely two years ago, marking the first time a Chinese car maker acquired an international brand car.
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