Transcript for Volvo in High Gear
Car aficionados ditch right is the place to be this week at the North American International Auto Show gets under way. Auto makers are giving immediate sneak peek at the newest and coolest technology -- -- is introducing a new plug in hybrid concept. Peter tell us about that is -- -- US CEO and John Maloney John thanks for being with us. Well thanks -- being here at the Detroit auto show as we reveal this very important that plug in hybrid concept for us is I guess that's a car is standing there behind you makes this different that what we're already seeing on the market today. Yet you're you're correct it's RXC sixty body style which is on the market -- what's unique about this car. Is it's really three cars and one it -- the -- -- the option to go full electric -- battery power only good for 35 miles. Hybrid. Which has a fifty mile per gallon average or power. Which -- -- -- -- -- 280 horsepower engine and batteries together. For a total availability of 350 horsepower so really what's. The customer decide the -- short trip this -- he's electric wanna maximize my fuel economy on the hybrid. Or do I want to have power 350 horsepower to deliver a very spirited drives and I don't compromises. I don't sound like just sitting here but for years there's been talk about plug in cars and yet not have really taken off in the main street. Do you think times are changing. I think that that this is a concept that this concept for small will win in the marketplace because it's it's no compromises it. It gives the customer exactly what they want when they wanted. It won't always be for everybody will only be a portion of the market that -- want this type of vehicle but we are confident that this will meet consumers' needs. To suit their lifestyle that's really we're trying to do here -- to people's lifestyle as opposed to dictate a solution. And will this car actually be on the market here in the US. -- this is the concepts we haven't announced when it will be on the market but the technology that we've got this car is clearly available to Volvo in it will be something that will bring to market the future. All right -- about the auto industry in general here recent reports. -- US auto companies. Seeing that great prospects this year and your company -- do you have any plans to expand here in the west. Well. We're very -- The mystic about the she really great here in 2011 we -- up 25% of the US which among the luxury brands was the best performance on a year over year basis. We expect to be up another eight to 10% this year with strong demand on our -- sixteen XC sixty products leading the way so. We're very optimistic about -- in the US for 2012. And frankly -- we've got to demand that exceeds supply right now so it's a good problem to have. And any plans to expand here in the new west and creates more jobs when it comes building's -- -- -- -- sales company here so we have been putting on some jobs in the sales company. From a manufacturing standpoint right now are manufacturers in Europe and -- clearly looking at North American production going down the road. Thank you guys are sort of an iconic luxury Clinton brand in the car industry -- -- your thoughts. On the return of luxury luxury auto sales are our way out. Yeah I think it's. You know there is a customer to some segment of the market. But -- still even in the luxury said. Really help them offer aspiration and desire but a good good value proposition and I think -- what does it very well. And certainly our new products have broken through in this in this market didn't deliver for us. Anything as standouts -- among other cars you've seen so far into trying. Well we got a full they -- so so far haven't been able to get around the show too much have been doing these and interviews but I will look at everything and I'm. I'm very -- leads to -- all of our competitors are doing all right well best of luck to you John Maloney CEO of all of -- thanks so much for joining us. Thank you very much.
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