Volvo’s COO: Downplay your success and buy a Volvo

Posted: Mar 27, 2009
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Steven Armstrong, Volvo’s Chief Operating Officer, said that the economic crisis can allow the Swedish automaker to win customers from German premium brands such as BMW, Mercedes-Benz and Audi. Armstrong feels that wealthy buyers who want downplay how much money they have in their bank account during the downturn could opt for a Volvo instead of a BMW.

“We have a real opportunity for Volvo with respect to premium positioning. As people cut back, it becomes a little less acceptable to flaunt your money,” Armstrong told Automotive News Europe.

Armstrong said that wealthy buyers who are looking to reward themselves without showing off gives Volvo a great opportunity since it provides a “more socially acceptable product.”

Nonetheless, Volvo sales fell nearly 60 percent during the first two months of 2009 in the U.S., while sales dipped 31 percent in Europe.

- By: The Daily Auto Editor


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  • john

    …Volvos are already overpriced. So really we are spending less to get more airbags and less of everything else? If I wanted more airbags, I'd get another girlfriend.

  • john

    …Volvos are already overpriced. So really we are spending less to get more airbags and less of everything else? If I wanted more airbags, I'd get another girlfriend.