Volvo car sales rally in China, drop in the US
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The Swedish automaker Volvo, now owned by the Chinese group Geely, said Friday its 2010 sales rose 11 percent to 373,525 vehicles.
Sold by Ford to Geely in August for $1.5 billion (€1.2 billion), the Chinese carmaker has set a target of selling 800,000 Volvos in 2020, including 300,000 in China alone.
In 2010, Volvo's sales rose by 29 percent in northern Europe and by 36 percent in China.
Sales dropped 12 percent in the United States to 53,952 vehicles, although it remained Volvo's top market.
The sales are in line with 2008, but still far below Volvo's record of 458,323 vehicles sold in 2007 before the global economic crisis hit.
Last Updated (Monday, 10 January 2011 10:09)
