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Volvo credits China, Europe for first-half profitability

If everything goes to plan, Volvo might be showing the first signs of a turnaround after several years coping with old products and a staid image. The Swedish brand is imminently launching its next-gen XC90 SUV on a completely revised, modular platform and using a cutting-edge family of engines, and it has even more products to take advantage of the fresh components on the drawing board. "We are excited about the launch of the all-new XC90, which marks the beginning of the re-launch of the Volvo brand," said CEO Håkan Samuelsson in the company's announcement. In the meantime, the business is moving back to profitability and is even forecasting growth through the rest of 2014.
In Volvo's recently released financial and sales results for the first six months of the year, volume was up 9.5 percent to 299,013 cars. On top of that, operating income reached 1.21 billion Swedish krona ($175 million) after posting a loss in the same period in 2013. Net income was also improved to 535 million Swedish krona ($77.4 million), which was also a reversal from a negative last year.
With these great results, Volvo is now forecasting 10 percent sales growth worldwide by the end of the year, and the key to it is a booming market in some regions. China, home to parent company Geely, was up 34.4 percent first half of the year. It's now Volvo's biggest market in the world and helped by exclusive models like the S60L (pictured above) and S80L. "We are growing our presence in China and we expect to sell at least 80,000 cars there this year," said Samuelsson in the company's forecast.

Volvo to go all electric by 2030, hastening internal combustion's death

LONDON — VolvoÂ’s entire car lineup will be fully electric by 2030, the Chinese-owned Swedish company said on Tuesday, joining a growing number of carmakers planning to phase out fossil-fuel engines by the end of this decade.   “I am totally convinced there will be no customers who really want to stay with a petrol engine,” Volvo Chief Executive Hakan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.” The Swedish carmaker said 50% of its global sales should be fully-electric cars by 2025 and the other half hybrid models. Owned by Hangzhou-based Zhejiang Geely Holding Group, Volvo will launch a new family of electric cars in the next few years, all of which will be sold online only. Volvo will unveil its second all-electric model, the C40, later on Tuesday. Samuelsson said Volvo will include wireless upgrades and fixes for its new electric models — an approach pioneered by electric carmaker Tesla Inc. Carmakers are racing to switch to zero-emission models as they face CO2 emissions targets in Europe and China, plus looming bans in some countries on fossil fuel vehicles. Last month, Ford said its lineup in Europe will be fully electric by 2030, while Tata Motors unit Jaguar Land Rover said its luxury Jaguar brand will be entirely electric by 2025 and the carmaker will launch electric models of its entire lineup by 2030. And last November, luxury carmaker Bentley, owned by GermanyÂ’s Volkswagen, said its models would be all electric by 2030. Electrification is expensive for carmakers, and as electric vehicles have fewer moving parts, auto employment is expected to shrink.    Volvo CEO Samuelsson said that industrywide, electrification will mostly affect engine plants and auto suppliers providing everything from oil filters to fuel injectors and spark plugs. “Those are a lot of jobs of course,” he said. “But overall I donÂ’t think there will be a big difference.” Volvo said it will “radically reduce” the complexity of its model line-up and provide customers with transparent pricing. The carmakerÂ’s global network of 2,400 traditional bricks-and-mortar dealers will remain open to service vehicles and to help customers make online orders.

Volvo's next-generation cars will feature gaming-derived graphics

Volvo joined forces with Epic Games, the company that created the Fortnite franchise, to give its next-generation cars a faster infotainment system with vastly improved graphics. Using technology gleaned from the world of gaming promises to unlock a long list of new features. Don't expect to see a Fortnite-themed display in the XC90's replacement; the partnership isn't going that far. Volvo explained that it will use the Unreal Engine, a real-time 3D creation tool developed for industries outside of the gaming world, to develop the digital interface it will program into future additions to its range. This technology will allow it to deliver richer colors, sharper renderings and new 3D animations. Good graphics aren't worth much if the software is annoying to use, so Volvo will power its next infotainment system with the third-generation Snapdragon Cockpit Platforms designed by Qualcomm. We're told that the end result is a system that's over twice as fast as the one Volvo currently uses, and whose graphic generation and processing capacities are up to 10 times faster. Volvo hasn't released a video of the software in action yet, but we won't have to wait long to see it: the feature will debut in a new flagship model due out by the end of 2022. This isn't the first time that Volvo has enlisted the help of a technology company to design an infotainment system. Its current cars (like the C40 Recharge) are fitted with Google's Android Automotive OS infotainment system. And, the worlds of gaming and in-car technology have collided before: Nissan notably asked Polyphony Digital, the company behind the Gran Turismo franchise, to design the GT-R's display. Featured Gallery Volvo's Epic Games-powered infotainment system Volvo Technology Infotainment