Volvo Car chairman Li Shufu has told Swedish financial newspaper Dagens Industri that the company wants to achieve sales of more than 1m units annually in the long term “beyond 2020”.

According to a Reuters report, the company is eyeing yearly sales of 800,000 cars by 2020 mainly on the back of growth in China. That number is nearly double the level achieved in 2013.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Shufu also reiterated the company’s target of 8% operating margin, up from 1.6% in 2013, reported Reuters.

Volvo’s 2013 operating profit surged to SEK1.92bn (US$292.7m) from SEK66m in 2012.

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact