Volvo UK is looking for a new managing director after current incumbent Gerry Keaney was promoted to vice president sales for Volvo Car Corporation. Keaney, who takes up the new role in August, has overseen a complete revamp of the Volvo model range and brand image since his appointment in 1996.

Sales increased 8.31 per cent year-on-year in 2001 to 40,014 units, making the UK Volvo's second largest export market. Ford has approved more than £4bn for new product development and manufacturing at its Premier Automotive Group brand. The announcement quashes speculation suggesting Ford was considering selling Volvo.