Mexican Media Brands
Volvo Vows to Double Sales by 2025
Volvo Car Corp.’s new business plan sets goals of doubling unit volume and hiking profit margins 50% in seven years, in part through increased sales to ride-hailing fleets.
#economics
Share
Volvo Car Corp.’s new business plan sets goals of doubling unit volume and hiking profit margins 50% in seven years, in part through increased sales to ride-hailing fleets.
The targets, which are being presented later today, envision a sales mix by 2025 that is 50% all-electric, the Financial Times reports.
The British newspaper says half the brand’s sales by mid-decade would be through subscription services that enable participants to frequently swap cars rather than buy or lease a single vehicle. About 30% of the company’s cars would be capable of operating in fully autonomous mode.
Last year Volvo signed a deal with Uber Technologies Inc. to supply the ride-hailing service with as many as 24,000 of its XC90 crossover vehicles between 2019 and 2021 for use in a robotic taxi service.
RELATED CONTENT
-
Increasing Use of Structural Adhesives in Automotive
Can you glue a car together? Frank Billotto of DuPont Transportation & Industrial discusses the major role structural adhesives can play in vehicle assembly.
-
Choosing the Right Fasteners for Automotive
PennEngineering makes hundreds of different fasteners for the automotive industry with standard and custom products as well as automated assembly solutions. Discover how they’re used and how to select the right one. (Sponsored Content)
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
