Volvo will not aspire to be a premium brand anymore, according to its CEO Stefan Jacoby. The newly appointed boss told UK publication Autocar that Volvo will concentrate on what makes Volvo unique.
“Let’s ditch this talk about premium,” said Jacoby. “It sounds like a pricing strategy and it’s got an expensive ring to it. We need to focus on elegant Scandinavian simplicity, our own unique identity, and not copy our competitors.”
By competitors, Jacoby is referring to BMW, Audi and Mercedes-Benz. Perhaps this is an underhanded dig that the German trio, suggesting that Volvo’s competitors are overpriced, or overselling themselves.
Regardless, Volvo will be looking to the US to ramp up its sales, expected to double from 380,000 worldwide in 2010 to over 800,000 units in 2020. “We have lost ground in the US,” explained Jacoby. “We are at the bottom, looking up.”
A stronger foothold in America, one of the biggest markets in the world, would certainly bolster Volvo’s chances of growth, while more product and sleeker design cues have begun to turn the Swedish manufacturer around.