Volvo Car Group said it would add 1,300
jobs and boost production at a plant in Sweden in the first quarter to meet
rising demand for its new cars.
Gothenburg-based Swedish car maker has
already seen deliveries rise nearly 10 percent in the first nine months of the
year and expects to sell about 470,000 cars for the whole year, representing a
10 per cent increase over 2013 and an all-time sales record for the company.
Volvo said it would add a third working
shift at the plant, which has the capacity to produce 300,000 cars annually and
is located on Sweden's west coast. Volvo Cars aims to sell 800,000 cars by 2020
and make inroads in a premium market dominated by rivals such as Daimler's
Mercedes-Benz and BMW.
Volvo announced earlier this month that
sales in September rose 8.6 per cent on the year after recording growth in all
of its major markets and confirmed it is on track to report an all-time high
sales result in 2014.
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