Volvo Drops Plans for New Flagship Sedan

Volvo unveiled the Universe concept in Shanghai earlier this month. The sedan was supposed to be a preview of a future Volvo flagship, but now it looks like those plans have been put on hold.

Volvo CEO Stefan Jacoby told reporters, “It’s not in our midterm or long-term strategy right now.”

Geely Holding Group purchased Volvo last year from Ford and Geely Chairman Li Shufu has been pushing for a more upscale Volvo to compete with the German brands, like BMW and Mercedes-Benz. That plan is now dead.

“It is too early to enter the S-class-size market,” Jacoby said. “We are concentrating with our new products on our core segments.”

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Full Story: Automotive News

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