VOLVO CARS TO BUILD NEW FACTORY IN US
March 31, 2015 by Volvo![VOLVO CARS TO BUILD NEW FACTORY IN US](images/articleimages/volvo-new-factory-in-us_01-400.jpg)
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'The US Volvo dealers are delighted with this announcement,' said Chip Gengras, chairman of the Volvo dealer council in the US. 'It clearly illustrates Volvo's long term commitment to the US market.' The new plant will create new jobs, providing security for its employees and their families. Car plants are also known to have significant multiplier effects on their local areas, injecting funds into neighborhoods. As such, the new plant provides a boost for the economy of the state in which it is located. Volvo's US revival comes alongside strong growth in China and Western Europe. With plans to increase sales on all three continents, Volvo will be able to meet its medium term sales and profitability targets and clear a path towards even stronger growth in future. Volvo Car Group in 2014 For the 2014 financial year, Volvo Car Group recorded an operating profit of 2,252 MSEK (1,919 MSEK in 2013). Revenue over the period amounted to 129,959 MSEK (122,245 MSEK). For the full year 2014, global sales reached a record 465,866 cars, an increase of 8.9 per cent versus 2013. The record sales and operating profit cleared the way for Volvo Car Group to continue investing in its global transformation plan. About Volvo Car Group Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car brands in the world with sales of 465,866 in 2014 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely Holding.
posted on conceptcarz.com
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