1994 Volvo 850 Base Wagon 4-door 2.4l Non-turbo Burgendy 109k Mi Leather on 2040-cars

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Volvo Cars hopes to raise $2.9 billion in its stock IPO

STOCKHOLM/LONDON — Geely-owned Volvo Cars plans to raise 25 billion Swedish crowns ($2.9 billion) through an initial public offering (IPO), the Swedish carmaker said on Monday of what would be one of Europe's biggest listings this year. Volvo said it will list on the Nasdaq Stockholm stock exchange this year and that Chinese owner Geely Holding would remain its biggest shareholder. In 2018, Volvo Cars and Geely, which also owns an 8.2% stake in Sweden's Volvo Trucks, postponed plans to float shares in the Swedish carmaker, citing trade tensions and a downturn in automotive stocks. "Volvo Cars believes that its unique structure and focused strategy makes it one of the fastest transformers in the global automotive industry, with mid-decade ambitions dedicated to electrification, sustainability and digitization," the Swedish company said in a statement. Like a number of other carmakers, Volvo has committed to shifting its entire car range to fully-electric models by 2030. Volvo said is targeting an operating margin of between 8% and 10% by 2025. It is also aiming for annual sales of 1.2 million cars, up 56% from the 770,000 it sold in the 12 months to June 20 this year. Electric push The carmaker said it expects 50% of sales to be fully electric cars by the middle of the decade and that 50% of sales will be made online rather than in dealerships. Volvo Cars said earlier on Monday that its sales in September fell 30% from a year earlier, dented by the global components shortage. Sources told Reuters last month that Geely was in advanced discussions with banks to list the Swedish company in the coming weeks, aiming for a valuation of about $20 billion. Volvo Cars had previously said it was considering a Stockholm listing in the second half of 2021. A Volvo spokesperson on Monday said that the company had no comment on valuation or on how much of the business would be sold in the IPO. "There will be further information published in connection with the prospectus," she said. Electric-car maker Polestar, which is owned by Geely and Volvo, last week said it will go public by merging with a U.S.-listed special purpose acquisition company (SPAC) backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Volvo C40 Recharge charging

2023 Volvo XC60 Review: Get the Recharge plug-in hybrid

Pros: Elegant styling and beautiful cabin; excellent plug-in hybrid option; solid value Cons: Middling handling; pricey and strange Polestar performance model The 2023 Volvo XC60 is the bread-and-butter SUV for Volvo since it’s in the very popular compact luxury segment. Thankfully for Volvo, the XC60 is a good, solidly competitive offering and one of our top-recommended choices in that segment. The most enticing part about the XC60 is its superb plug-in hybrid “Recharge” option. With 36 miles of range, a very strong electric motor and tons of power on tap from the gasoline engine, thereÂ’s no luxury compact SUV plug-in hybrid weÂ’d rather have. Of course, many of the XC60Â’s other elements are what make it so desirable. The 2022 update to revamp the vehicleÂ’s infotainment system give it a top-notch suite of tech offerings. ItÂ’s practically impossible to find the exterior styling offensive. Plus, who doesnÂ’t love an elegant Swedish-style interior? You can even get wool upholstery! One of our editors loved the XC60 so much that he actually bought one, so thereÂ’s a true endorsement coming straight from our wallets. Compared to other compact luxury SUVs, the XC60 wonÂ’t carve corners as well as a BMW X3 or Mercedes-Benz GLC. Plus, the Polestar Engineered performance model is a tad questionable considering it doesnÂ’t provide extra power and has manually adjustable dampers — yeah, you have to go twist the knob yourself. Those arenÂ’t exactly dealbreakers, though, and given the spacious back seat and cargo room, comfortable driving characteristics and excellent fuel efficiency, the stylish XC60 is an impossible-to-overlook option. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2023? For 2023, Volvo revamps its trim naming structure. Instead of the familiar Momentum, R-Design and Inscription options, buyers are now faced with Core, Plus and Ultimate. Additionally, the number of options packages are reduced and bundled together. The more important updates happened last year for the 2022 model where Volvo completely revamped the powertrain options, adding a mild-hybrid assist to the B5 and B6 models and providing big upgrades to the Recharge plug-in hybrid. You can read about these changes to the Recharge in our first drive story from 2022.

All-new Volvo VNL Class 8 tractor loads up on car-like features

A few months ago, we wrote about the public-private partnership between the U.S. Department of Energy and Class 8 truck makers to create concepts called SuperTrucks. The four manufacturers involved designed lighter, more aerodynamic, and more fuel-frugal trucks to hit escalating freight efficiency targets in each phase of the program. Daimler, Navistar, Peterbilt, and Volvo spent the past 18 months showing the results of the SuperTruck 2 phase while work gets going on SuperTruck 3. This month, Volvo becomes the first of that group to debut an all-new truck incorporating lessons learned in the SuperTruck program. Starting with a clean sheet of paper, the new Volvo VNL is said to be as much as 10% more fuel efficient than before, a stat to get fleet managers and owner-operators to pay attention. Even carmakers tout a 10% increase in fuel economy, and the benefit — like the size — is so much larger in trucks. Let's keep it easy and say a solo driver does 100,000 miles in a year in a truck that averages 7 miles per gallon. That driver needs 14,286 gallons of diesel to do those miles; at $4 per gallon, that's $57,144. If the VNL driver gets 10% better fuel economy and his truck returns 7.7 miles per gallon, this driver only needs 12,987 gallons of diesel, and pays only $51,948. Tell a fleet manager they can save $5,000 per truck, and assuming a sensible purchase price and consistent reliability costs, that fleet manager is going to want to set up a meeting. Just as with car redesigns, a lot of little changes went into this, some we'll recognize from the car world. The VNL's cab adopts a stronger wedge shape and sharper corners. Instead of the usual large, flat windshield sealed with a gasket, the new VNL gets a curved windshield bonded to the body. Tighter gaps between exterior components like the bumper and hood leave fewer spaces for turbulent, draggy air to develop. Volvo also reworked the area behind the cab to reduce one of the greatest aerodynamic maelstroms, the gap between cab and trailer. The D13 engine up front is said to be more fuel efficient and more durable, offering a range of outputs from 405 to 500 horsepower and from 1,748 to 1,947 pound-feet of torque. Considering that the first VNL generation lasted 22 years before a major redesign, from 1996 to 2018, Volvo incorporated powertrain flexibility into this one.