The dealers "have done a great job to secure our growth in the pandemic," Gustafsson told Automotive News after the meeting.
Volvo chalked up a record year for dealer profitability in 2020. Return on sales was 2.6 percent for the year, compared with 1.8 percent in 2019, according to a dealer in the meeting.
But retailers are not resting on their laurels, Volvo Retail Advisory Board Chairman Ernie Norcross said.
"There's a lot of opportunity for growth for the dealer network, both in throughput and profitability," Norcross said.
Volvo will lean in on its fast-selling XC utility vehicle lineup and a pair of new electric models
The automaker will launch its first battery-powered model, the XC40 Recharge P8, this year. And toward the end of 2021, Volvo will introduce a battery-powered coupelike crossover.