Volvo CEO: Let's ditch this talk about premium brand
When most people think of Volvo, they think they are shopping against other premium brands. Well, Volvo’s new CEO (which is Volkswagen’s former CEO), Stefan Jacoby, wants to get rid of the ‘premium’ talk and come up with a new strategy.
Jacoby said that Volvo needs to stop running after the ‘premium’ market currently held by BMW, Audi and Mercedes and reevaluate its product plan.
“Let’s ditch this talk about premium,” said Jacoby. “It sounds like a pricing strategy and it’s got an expensive ring to it. We need to focus on elegant Scandinavian simplicity, our own unique identity, and not copy our competitors.”
Speaking about Volvo’s presence in the United States, Jacoby said: “We have lost ground in the US. We are at the bottom, looking up.”
Jacoby is aiming to get Volvo’s sales to reach 800,000 units a year by 2020. The brand expects to sell 380,000 units in 2010.
– By: Omar Rana