CHIBA (Kyodo) AB Volvo will lift its market share in Japan to 5 percent from the current 1 percent, the president of the Swedish truck maker said earlier this week.
Leif Johansson, in Japan for the Tokyo Motor Show, which runs through Sunday at the Makuhari Messe convention center in Chiba, said Volvo plans to expand its businesses in Asia.
Johansson could consider forming an alliance with a Japanese truck maker if such a move would significantly spur its growth in the Japanese truck market.
"If there was a possibility to enhance growth by making an alliance, then that potentially is something that we can take a look at," he said.
Volvo currently manufactures trucks, buses and other commercial vehicles. It sold its car business to Ford Motor Co. in 1999.
Auto analysts speculate that Volvo may be a good match for Nissan Diesel Motor Co. and that a tieup would boost business in Japan and other Asian markets.
In 2000, Volvo acquired the truck division from French automaker Renault S.A., which holds a 44.3 percent stake in Nissan Motor Co.
"We are the No. 1 player in Europe. We are No. 2 in North America," Johansson said. "We are much more interested in growing in Asia, including Japan."
Around 60 percent of Volvo's sales come from Europe, 24 percent from North America and 9 percent from Asia, he said. In Japan, where Volvo sells trucks, construction equipment, and marine and industrial engines, the Swedish company plans to sell 500 trucks this year.