Volvo outlines ambitious 2025 plan to become automotive leader
Volvo Cars has spelled out its plan to become a leading player in the industry by 2025.
The Swedish manufacturer is putting the customer's needs at the front of its thinking with the target of building over five million direct consumer relationships by the middle of the next decade.
As the industry faces up to the transformational switch from traditional models to an electric future, Volvo is also expecting to generate half of all sales annually from fully electric cars, one third of all cars sold to be autonomous driving cars and half of all cars it offers to customers from its subscription service.
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"Our customers’ expectations are changing rapidly. This means that Volvo Cars is also changing rapidly," said Hakan Samuelsson, president and chief executive. "These initiatives will help transform Volvo from being purely a car company to being a direct consumer services provider.
"This paves the way for Volvo Cars to continue growing fast into the middle of the next decade. The company has been transformed since 2010 into a global premium car company. Now it is time for this transformation to be turned into a period of sustained profitability in line with other premium brands."
Volvo Cars achieved record profits and sales in 2017, with a 27.7% increase in operating profit and global sales of 571,577 cars.
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