Volvo Cars CEO says demand holding up despite COVID spike

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Volvo Cars CEO Hakan Samuelsson said merger plans with China's Geely Automobile look more uncertain, but the company expects to match year-on-year sales in the second half of 2020

It notched a sixth straight annual sales record in 2019, of more than 700,000 cars, and while hit by the pandemic earlier this year has seen a sharp rebound in recent months, helped by strength in China and the United States.

“For the rest of the year I would say our base case is still to be back roughly at where we were last year.” “Volvo’s Swedish and Geely’s Chinese, and if we do something together it has to be a strong global internationally governed group, with an international management and board,” he said.

 

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Merger with a Chinese car company like GeelyGlobal will doom volvocars. Volvo will cease to exist and be known for all that it was known for.

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