Speaking in Detroit as executives from the crisis-battered industry gathered for the annual auto show, Odell forecast a slow path to recovery for major markets, largely because of the ongoing problem of unemployment.
The Swedish carmaker itself would sell over 350,000 units this year, compared with 2009's level of 334,000.
"I think it's going to still be very tough. I think the first quarter of 2010 will be very much like 2009," Odell said, adding that while liquidity and the group's own sales performance improved, ongoing high unemployment meant that "people tend not to rush out and buy expensive consumer goods."
Odell said talks between Ford and China's Zhejiang Geely, which is buying the Swedish carmaker, were proceeding as planned. Ford and Geely said in December that they had reached commercial agreement on the deal and expected to sign in the first quarter and complete in the second quarter of the year.
Odell said he did not know if he would remain in his role once the deal, if it goes ahead, is completed. "I am making decisions as if I'm here forever. My position in the company will become clearer in due course."
Chinese carmakers are taking advantage of a shake-up of the auto industry sparked by the widespread ciris, tapping into Western brands in a bid to boost their technology and take full advantage of a fast-growing market, that eclipsed the US as the world's biggest car market last year.
The deal is likely to mean a greater presence for Volvo in China, where its sales are currently limited to a tiny fraction of the market.