Saturday, 23 May 2009

Volvo Philippines upbeat on sales

J.S. Gatuslao
BusinessWorld
http://www.bworldonline.com/BW052309/content.php?id=046

Volvo Philippines said on Friday it expects to keep its 23% market share in the local luxury car segment, maintaining a positive outlook on sales despite the economic slowdown.

Lyn M. Buena, vice-president for marketing, expressed confidence on 2009 sales, saying that "Even with the financial downturn, our current product line-up is performing right on target."

Following this week’s launch of the Swedish carmaker’s first sport utility vehicle (SUV), the XC60, Ms. Buena said results have been "very encouraging." Volvo Philippines said 55 units of the XC60 have been sold so far.

For 2009, Volvo Philippines expects to sell a total of 290 vehicles, with 120 already booked. Last year, the local distributor of the Swedish carmaker sold 250 vehicles.

"Healthy competition helps us be on our best performance, knowing that there are other brands who also vie for the attention of our market. However, all premium brands have a leading edge — ours is safety," Ms. Bueno said.

"There will always be a need for mobility and even with the current financial situation, people still buy cars. It is only a matter of which car brings the best value and best suits their lifestyle," she added.

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