Volvo says the focus on cost savings by Car Group CEO, Hakan Samuelsson, has proved successful as the automaker looks to balance the books in 2013.

"The aim is to break even this year, even if it is going to be quite a challenge," a Volvo spokesman told just-auto in Gothenburg. "He has not made radical changes, but he is very focused on cost saving, but at the same time, safe-guarding product investments we need to do for the future.

"He is very determined - if we don't develop the products we need we will run into problems. It is a focus on cost cutting when it comes to external consultants, which have been cut."

Volvo has also welcomed the imminent relaunch of Saab through its parent company, National Electric Vehicle Sweden (NEVS), this autumn as important for the country's supplier development.

"From Volvo's point of view, we wish them all luck," said the automaker's spokesman. "It is important we have Volvo, Saab, it is important for know-how for a good supplier base.

"We were not in any way happy with Saab's bankruptcy."

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