Volvo has announced plans to close its plant in Uddevalla, Sweden in 2013, which is the plant that produces the C70 convertible.
The Uddevalla plant is co-owned with Pininfarina, but the plant is currently only producing 65 percent of its capacity. The plant only produced 10,000 cars last year. Due to the low volumes the plant is going to be closed.
Volvo's CEO Stefan Jacoby stated, "A car manufacturer of Volvo's size cannot, from a financial standpoint, justify a plant that manufactures one single model in the low volumes we have today."
Volvo and Pininfarina have decided to end the joint venture and Volvo is going to buy out Pininfarina in 2013, then the plant will be closed.
A successor for the C70 convertible is not planned.
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