Volvo to remain profitable in 2011 -CEO

Newswire

BEIJING, Feb 25 (Reuters) - Volvo Cars, owned by China's Geely, will remain profitable in 2011 as its global auto sales continue to grow, its chief executive told Reuters on Friday. Stefan Jacoby made the comments while in Beijing to unveil the company's China strategy. Last year marked Volvo's first profitable year since 2005, with global sales of 373,525, up 11.2 percent from 2009. (Reporting by Fang Yan and Ken Wills)

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