Volvo unveils new model in its drive for sales and earnings growth
Geneva — Volvo Car Group unveiled its new XC60 SUV at the Geneva car show on Tuesday, the latest launch in a sweeping overhaul of its model line-up under Chinese ownership that will be key to driving sales and earnings ahead of a possible listing. Despite being launched almost a decade ago, the original XC60 has remained popular among buyers and been the cat maker’s best-selling model since 2009. It accounts for roughly a third of Volvo’s sales, leaving the new model with big shoes to fill as it tries to expand its niche in a premium market dominated by larger players such as Daimler’s Mercedes-Benz and BMW. "The XC60 is in one of the hottest premium segments globally, so getting the execution and launch right is imperative for the growth of the brand," said Bill Rinna, senior manager for North American forecasts at consultancy LMC Automotive. "Globally, we expect the new XC60 to sell 175,000 units annually. Its two main competitors are not standing still however, as both the Audi Q...
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