Chinese drivers want Volvos, company sells record amount of cars worldwide

Increased sales in China mean that automobile manufacturer Volvo is reaping record profits, and the company says it may seek new hires in the future.

Swedish Radio reported that the car company held a press conference in Stockholm Thursday to publicize its success. The company increased its profits by 30 percent in 2014. Håkan Samuelsson, CEO of Volvo Cars, said the company was in an "investment phase."

A 30 percent increase of sales in China accounted for the biggest gains. Last year the company sold a record 465,000 cars worldwide. Sales are strong in Europe and China but have fallen in the United States.

"We're going to sell 50,000 cars this year, and a third of those cars have been sold before they got to the showrooms," said Samuelsson.