Last week, Volvo gave up its ceiling to only sell electric cars, now the brand is dropping hopes of only selling cars online. The whole business must be sold.
Care by Volvo never reached Denmark. At least not because the whole thing has to be sold again. Selling cars by subscription was never a success for the Chinese-owned brand.
Not even though Volvo presented the initiative with a bang at the LA Automobility car show in 2018. For now, it all has to go away again.
– Instead of investing in a shrinking company, we chose to invest in the future – electric and online, said then managing director Håkan Samuelsson in March 2021.
That's what Automotive News writes.
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Specifically, Volvo is dropping the idea that the brand should sell half of its cars online. Therefore, the subscription service will be discontinued in England, while Volvo will look for someone to sell the platform itself to in Germany, the Netherlands, Sweden and Norway.
Even the cars that Volvo may have on the roads via the subscription service, the brand will now see if they can get away with pure sales.
– Volvo Cars has begun the process of reviewing local market solutions to transfer active contracts to new partners to ensure a seamless change of financing providers, reads a comment to Automotive News.
However, it is not only online sales that Volvo needs to get rid of. The car brand has far more serious problems with new cars that are full of faults. For example, the brand new EX90 had to be started with a computer when journalists were flown to the USA to get the first test drives.
Immediately after the first lukewarm reviews, Volvo's share price began to fall sharply. And earlier this week, Boosted could tell that Volvo has never been worth less.
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