IKEA Doing Great But Volvo's US Sales Are Down (Again)

Industry News

Time to save a sinking ship.

There was a lot of hoopla a few years ago when Ford sold Volvo to Chinese automaker Geely, which had big plans for the Swedish brand. Initially the goal was to turn Volvo into an Audi-BMW competitor. When enough people who knew what they were talking about objected to that unrealistic idea, Volvo decided to focus on what it does best: safety. It would still build premium cars but none would cause any German brand to worry. Above all, however, reviving North American sales was key to success.

Sadly, US sales declined by 8 percent last year, following a 10 percent drop from 2013. Not good. A management reshuffle is now taking place as former North American CEO Tony Nicolosi will be in charge of the Volvo’s finance company for the Americas. His replacement is a guy named Lex Kerssemakers, formerly the automaker’s global corporate product strategy chief. Kerssemakers is, more or less, the guy who’ll either find a way for Volvo to thrive in the US or simply remain at the helm of a sinking ship. On a good note, Volvo does have some pretty cool cars coming out, such as an S80 replacement, XC90, S60 Cross Country, and an all-wheel-drive V60 Cross Country. Our advice: build that Concept Coupe, too.

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