27 June 2001: The first of five new cars to be introduced by Volvo over the next five years will be a vehicle in the 'sports activity' segment, to be based on the Adventure Concept Car seen at the Detroit Motor Show last January.

And the company, which is part of the Ford Premier Automotive Group stable, aims to increase global sales from 430,000 units a year to 600,000.

Speaking at the Automotive News Europe Congress in Prague, Volvo's President and CEO Hans-Olov Olsson said the marque's agenda includes customer satisfaction, profitable growth, a new generation of premium cars, and a new generation of premium leaders and employees.

He said the company has to be 'faster, better and smarter', and that timing in new car development is essential. He also detailed how Volvo is using the Internet to involve customers in the development process with a website called Concept Lab Volvo which gives customers the opportunity to inject new ideas and e-mail their viewpoints direct to key people in the organization.

He said the plans will mean 'chasing new customer groups in new segments.