LOS ANGELES: Swedish car marque Volvo is planning to hike itself further up the luxury league and has hinted at moving some vehicle production stateside within the next ten years.
The firm, part of Ford Motor Company and the subject of sell-off rumors in the summer, is due to shift 460,000 vehicles this year, according to president/ceo Fredrik Arp, speaking at the Los Angeles Auto Show.
Volvo has no manufacturing facilities in the US at present but Arp left the door open for changes: "We could have a situation where there is a platform that allows us to share a production site with Ford . . . sometime beyond 2012 or 2013."
Ford ceo Alan Mulally says the company has no immediate plans to dispose of Volvo and wants to develop its premium brand and "stand alone" potential, but he has not ruled out a future sale.
The US giant's UK-based luxury brands, Jaguar and Land Rover, are currently under the hammer and pursued by a number of interested parties.
Data sourced from Financial Times online; additional content by WARC staff