Volvo Car International is planning to expand in the luxury vehicle market in Brazil, according to business daily Gazeta Mercanti.

The paper quoted company chairman Bengt Ovlinger as saying that he expects to sell 1,100 imported vehicles in Brazil this year, 30% more than the 850 in 2000.

The company's target is to have overtaken its rival Audi by 2004. Audi is currently the number three ranking carmaker in the Brazilian luxury car market after Mercedes-Benz and BMW, the report said.

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