We know that Volvo is one of the car manufacturers most involved in the process of total electrification of the range. The Swedish brand aims to have electric vehicles contribute half of its sales volume by 2025, and to sell only electric vehicles by the end of the decade. In the last period the electric car market has seen mixed results, but Volvo has no doubts about the potential of this segment and says it is confident of seeing growth “extraordinary“.
Positive forecast
“We have a lot more pricing power and people have more disposable income, so they can afford it if they want to drive an electric vehicle”, underlined Jim Rowan, who is the CEO of Volvo. The number one of the Swedish brand was interviewed on the occasion of the Reuters Global Markets Forum, in Davos, and admitted that he expects significant growth at a global level for electric cars, with a particularly strong demand in Europedespite a slowdown that several rival automakers have predicted due to weak demand, steep price cuts, lower subsidies and supply chain problems.
Red Sea crisis
Could the Red Sea crisis have a negative impact on Volvo's sales and balance sheets? It would seem not: the Swedish car manufacturer has announced that, despite the announced stop to production at its plant in Belgium for three days due to the delay in the delivery of components, the situation will not have any impact on customers, since any additional costs will be absorbed by the same company.
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