When Ford sold Volvo to Chinese automaker Geely in 2010, many predicted that Volvo's time was nigh. At the time, Geely was seen as somewhat inexperienced in maintaining a premium brand, especially one with a history like Volvo's. But look at things today and it's obvious Geely has proven the skeptics wrong. Volvo is in the midst of a product renaissance, and it's eyeing North America as its next major sales target.

In a recent interview with Automotive News, Volvo North America CEO Tony Nicolosi stated that he wants to have one percent of the US automotive market in the next five years. In numerical figures, that means 150,000 to 160,000 units annually. For 2014, Nicolosi predicts sales of 63,000 cars. Last year's total sales came to 61,000 units. At the moment, Volvos account for just 0.4 of the US car market. Nicolosi predicts the V60 wagon and the upcoming all-new XC90 will be hits, as well as the recently refreshed S60 sedan. Regarding the possibility of the V40 hatch arriving stateside, Nicolosi clarified that because it's based on an old platform, it won't be sold in the US.

A new, smaller platform is currently in the works, which could serve as the basis for a US-approved next-gen V40. Volvo will also soon unleash its Sensus Connect HMI, an advanced infotainment system with 3D graphic integration. And in terms of future models, Volvo has told its US dealers that by 2017, the XC90 will be the oldest car in their showroom.