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.
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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.
