Volvo cars says order books solid : CEO in paper

Tuesday, 29 November 2011 01:00 - - {{hitsCtrl.values.hits}}

FRANKFURT (Reuters): Volvo Car, owned by China’s Geely, is not seeing any signs of a drop-off in orders yet, its CEO told a German magazine.

“We see no signs of a downturn, our order books are well filled up until the early part of 2012,” Volvo Cars CEO Stefan Jacoby told Automotive News Europe.

Volvo plans to take on more than 10,000 new staff by 2020 as it strives for sales of more than 800,000 cars a year by then, Jacoby said.

The majority of the jobs will be created in China, he said.

Geely, parent of Geely Automobile Holdings, took over Volvo from Ford Motor in August 2010, marking China’s largest overseas auto acquisition.