VOLVO PROVIDES THE FIRST LOOK AT ITS NEW RANGE OF SMALLER CARS
May 18, 2016 by Volvo![VOLVO PROVIDES THE FIRST LOOK AT ITS NEW RANGE OF SMALLER CARS](images/articleimages/volvo-concept-40-1_2016-image-01-400.jpg)
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'The new 40 series cars have the potential to improve our market penetration in an important growing segment,' said Håkan Samuelsson, President and Chief Executive of Volvo Cars. 'An electric powertrain program, including both a new compact Twin Engine plug-in hybrid as well as a pure electric car, are central to the CMA architecture.' He added that the first new 40 series car is expected to go into production in 2017. The announcement of Volvo's new global small-car strategy comes on the back of a strong start to the year in terms of sales and profitability. The company announced revenues for the first three months of the year rose 24 per cent year-on-year to SEK41.7bn, generating an operating profit of SEK3.1bn and an operating profit margin of 7.5 per cent. Global sales for the first quarter of 2016 increased 11.9 per cent to 120,591 cars. Volvo has a medium-term ambition to sell 800,000 cars a year, up from 503,000 in 2015.
posted on conceptcarz.com
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