What 2020 car numbers mean for 2018 sales
2018 sales figures are yet to be announced, but it appears that Volvo will have to sell fewer than 20,000 Volo cars in 2018 to be profitable.
The Swedish car maker says that it plans to sell only about 25,000 cars in 2019 and 2020, according to the Wall Street Journal.
Volvo says that the company will not be profitable in 2020.
Volvo’s business is currently booming thanks to its brand new Model X SUV, which is the most expensive car in the world, and its new Volvo XC90 SUV.
However, it has also been hit hard by a number of car disasters in recent years, including a fire at a Volvo factory in Finland and a devastating fire in a luxury car plant in Germany.
Volkswagen and Tesla have both announced plans to scale back production and sell fewer cars in the coming years, and both companies have announced that they will continue to sell vehicles at a loss.
It is expected that Volvo and Tesla will need to sell more than 20 million cars in 2020, as the Swedish carmaker aims to reduce its profit from 2019 to 2020.