GENEVA -- Volvo wants to more than double U.S. sales to 120,000 units by 2020 as part of a plan to boost worldwide sales to 800,000 vehicles by that time.
Volvo Cars CEO Stefan Jacoby said Volvo is still preparing the U.S. portion of its global strategy and examining ways to reduce the brand's currency exposure.
"The challenge is the relatively weak dollar compared with the euro and with the Swedish krona, which is stronger than the euro," Jacoby said.
Last year Volvo sold 373,525 cars worldwide. It sold 53,948 in the United States, down 12 percent from 2009.
Jacoby would not say whether Volvo, which is owned by the Chinese automaker Zhejiang Geely Holding Group Co., is considering building vehicles in the United States.
"We are working on ideas and alternatives to balance that exposure to the U.S. dollar," he said. "We have some rough ideas but no concrete plans or concrete investigations."
But even with the dollar exposure, Jacoby said Volvo "can significantly grow from the low basis where we are right now."
Volvo will roll out its new platforms and designs in 2015. The company is working on a new generation of engines and is focusing on plug-in hybrid technology. Jacoby said most Volvos produced by 2020 will have some kind of electrification.
The United States will have an electric version of the C30 compact later this year but only for a small number of fleets.
A gasoline hybrid won't come to the United States until the new generation of engines is ready, Jacoby said.
He said the V60 diesel plug-in hybrid station wagon unveiled at the Geneva show will not come to the United States.