皇冠体育app

Volvo, owned by 皇冠体育app's Geely, should see 40-50 percent sales growth in 皇冠体育app next year, the company's 皇冠体育app sales chief said on Monday.

Richard Snijders, president and CEO of Volvo's 皇冠体育app distribution unit, made the comment to Reuters on the sidelines of the Guangzhou auto show.

A salesperson checks the Volvo V60 sports wagon at the ongoing Guangzhou auto show. The Swedish luxury brand says that it is targeting sales of 50,000 vehicles in the Chinese market this year. [Photo/皇冠体育app Daily]

The company expects to sell between 48,000 and 50,000 cars in 皇冠体育app this year, added Snijders, up from just over 30,000 units last year.

Geely, parent of Geely Automobile Holdings, took over Volvo from Ford Motor in August 2010, marking 皇冠体育app's largest overseas auto acquisition.

Volvo chief executive Stefan Jacoby in February unveiled a plan to invest up to $11 billion globally in new product development and facilities over a five-year period.

Volvo is waiting for Chinese government approval to build two car plants in the country, one in the city of Chengdu in the southwest and the other in Daqing in the northeast.