Volvo Penta aims to rule yacht market
Print Edition
VOLVO Penta, Europe’s largest marine power system provider, aims to be a leader in the yacht market in China as more global yacht builders sail to the country to set up local production.
There is a “clear trend” of Western boat builders moving to China to produce locally, said Giorgio Paris, the company’s head of emerging markets and Asia-Pacific.
Volvo Penta counts established builders such as Azimut Yachts and Princess as customers.
The company, which makes engines in France and Sweden, will study producing in China in future if there is enough demand. But Paris doesn’t see it happening anytime soon.
Volvo Penta is also tapping homegrown yacht builders in China which would prefer a premium engine supplier.
China’s economic slowdown has been “reflected” in Volvo Penta’s sales growth in the country but the company is still expanding market share, Paris said in an interview at the annual China (Shanghai) International Boat Show, which will end tomorrow.
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