Volvo Cars Reorganizes and Creates Three New Business Regions, from The Wall Street Journal.
STOCKHOLM—Sweden’s Volvo Cars Corp. will reorganize its business into three new regions to “significantly strengthen” its commercial focus.
Volvo, owned by China’s Zhejiang Geely Holding Group Co., said it would create business regions for the Americas, Europe Middle East and Africa, and Asia.
Håkan Samuelsson, chief executive of Volvo, said Monday that the new structure has been created to bring the auto maker closer to its markets and allow it to “respond and react far more quickly to the needs of individual markets and regions.”
Volvo aims to sell 800,000 vehicles globally a year, nearly doubling the current pace. While the company has grown significantly in China over the past five years and sales in Europe have stabilized, U.S. dealers have been unable to keep up with German and Japanese competitors.
