Volvo, now under the control of China's Zhejiang Geely Holding Group Ltd, isn't forecasting a big sales boost in 2013. After a somewhat disappointing 2012, the Swedish automaker is calling for essentially flat sales next year.
When asked by Swedish newspaper Dagens Industri if the company was planning for sales in the 400,000 to 410,000 range next year, Volvo Chief Executive Hakan Samuelsson replied: "Yes, we are expecting something in that order of magnitude.
"That is the level where we see the market bottoming out.”
Volvo is currently on pace to sell around 400,000 vehicles worldwide this year. Through the first 11 months of 2012, Volvo delivered 383,000 vehicles, down 6 percent from the same period a year earlier.
Volvo sold 450,000 vehicles in 2011, but weak demand from Europe and China has hurt the automaker's growth this year. The automaker has set the goal of selling 800,000 cars annually by 2020, but that target appears a bit ambitious at this point.
Volvo was forced to layoff workers and slash production at its main plant earlier this year in response to sagging sales, but Samuelsson says no further cuts are planned.