For immediate release
The launch of the Volvo XC90 is an important part of Volvo Cars plan to achieve profitable growth year on year.
The initial worldwide target for the Volvo XC90 for its first calendar year is 50 000. 65 percent of these vehicles will be sold in North America.
New record year in North America
2001 was the 3rd consecutive record breaking year in North America for Volvo Cars with 134 937 sold vehicles.
"We are aiming for 200,000 cars per year in North America by 2005, So far, we have been growing in the right direction. But we really need a SUV to close the gap to 200,000 and that is the role the XC90 is going to play", says Dan Werbin, President and CEO of Volvo Cars North America.
The medium premium SUV segment is young. It was born in 1997 following the introduction of Mercedes ML. Since then the BMW X5, Lexus RX300 and Acura MDX have grown the segment and they are the main competitors for the Volvo XC90.
The segment is also growing rapidly and it is predicted to pass the 250,000 mark by 2005.
"The new XC90 enters this segment with great confidence. Recent clinics show that the customers see an SUV as a natural step for Volvo. It also complements the Cross Country perfectly. They are different vehicles with different buyers so they won't compete for the same customers", says Dan Werbin.
The task for the Volvo XC90 in the years to come is multi facetted:
"The new XC90 is redefining the premium SUV segment. It is the first in the next generation of SUV's. It offers a unique package, unmatched by any of our competitors", adds Dan Werbin.
