Volvo CEO says new sales record 'within reach'

Volvo Cars' goal to sell 800,000 vehicles globally by 2020 was derailed by the pandemic and by the semiconductor shortage in 2021. Despite the setbacks, CEO Hakan Samuelsson believes that topping Volvo's sales record of 705,452 vehicles set in 2019 is "within reach," even though the automaker took a big hit to production in the third quarter. Samuelsson also outlined the lingering effects of the pandemic on Volvo's business and shared how the newly listed automaker will consistently achieve a profit margin of 8 to 10 percent in an interview with Automotive News Europe Managing Editor Douglas A. Bolduc.