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Volvo returns to profitability

Ford sold Volvo to Zhejiang Geely Holding Group Limited in 2010. Just two years later, Geely announced an $11-billion investment in the Swedish carmaker, its charismatic fugleman Li Shifu saying, "We want to revive Volvo and give the brand its strength back." Two years later, after having introduced the Concept XC Coupe at the Detroit Auto Show this week, Volvo CEO Håkan Samuelsson (above, second from right) declared the company profitable again after a solid 2013 and predicted a positive 2014.
Intending to break even on operating profit in 2013, Volvo exceeded expectations and landed on the plus side due to a mix of factors. US sales declined 10.1 percent for the year to 61,233, that number still making us Volvo's largest market, but Chinese sales were up nearly 46 percent to 61,146 units, and even its home market saw a bump of 0.8 percent; total sales for the year were 427,840, a margin of 1.4-percent over the previous year. Volvo was able to do more with the tiny gain and reverse its half-year operating loss because of a global cost restructuring and thorough revamp of its Chinese distribution network. An announcement of 2013's financial results will come in March.
Bullishness on 2014 comes from the company's intention to focus on its two biggest markets with new models, new technology and more spending. The first product of an independent Volvo, the new XC90, will be revealed later this year on the new SPA architecture. On top of the Sensus Connect infotainment system, Volvo will add driver-aid systems like adaptive cruise control with steer assist and night-time pedestrian detection. It also has a new North American CEO and will spend more on marketing and communications here. In China it will begin to feel more effect from the two Chinese factories opened last year - it has three in the country - and, if need be, can take advantage of more advantageous exchange rates by exporting from China instead of the US. Said Samuelsson of what he expects in the US in 2014, "we will outperform the market."

2016 Chevy Colorado grabs Motor Trend Truck of the Year award

It's not an easy feat to win Motor Trend Truck of the Year twice in a row, but the 2016 Chevrolet Colorado managed to do just that. Thanks to the introduction of the 2.8-liter Duramax four-cylinder diesel, the magazine decided to bring the pickup back to defend the title. In more good news for the Bowtie brand, the 2016 Camaro earned the magazine's Car of the Year award. The Colorado beat a tough group of finalists to earn the nod this year, including its GMC Canyon sibling. The Chevy Silverado and GMC Sierra also made this year's list. The Nissan Titan XD and latest Toyota Tacoma rounded out the challengers. A model had to shine in six criteria to earn the title: advancement in design, engineering excellence, safety, efficiency, value, and performance of intended function. Like it did with the Camaro, Motor Trend posted a story online that explained the rationale for picking the Colorado again. They praised the diesel profusely and lauded the whole platform as quite a capable hauler. This year's Motor Trend SUV of the Year honor went to the Volvo XC90. The Swedish 'ute had to win against an initial group of 16 candidates that the magazine eventually whittled down to finalists that consisted of the Honda Pilot, Lincoln MKX, the combined Mercedes-Benz GLE-Class and GLE Coupe, and Nissan Murano. "Seven-passenger people movers aren't supposed to drive like this," senior features editor Jonny Lieberman said about the Volvo in the announcement of the champions. The Honda CR-V won last year. In the explanation online, the judges applauded the XC90's new modular platform, and they loved both the T6 twin-charged engine and T8 hybrid version. The SUV's key enamored the writers, too. Related Video: MOTOR TREND Announces 2016 "Of The Year" Winners Car of the Year, Truck of the Year, SUV of the Year, and Person of the Year announced during live ceremony and webcast in Los Angeles LOS ANGELES, Nov. 16, 2015 /PRNewswire/ -- Today, for the first time in the brand's 66-year history, MOTOR TREND announced winners of the Golden Calipers for Car of the Year, Truck of the Year, SUV of the Year, and Person of the Year at a red-carpet gala in front of an audience of industry insiders and celebrity guests. The awards show was also streamed live on the MOTOR TREND Channel on YouTube, with 3.5 million subscribers the world's largest automotive video channel, and on MOTOR TREND OnDemand, the brand's new subscription video on demand (SVOD) channel.

Volvo teases new electric SUV for 2023 reveal

At the launch of the Volvo EX90 flagship electric SUV, Volvo teased a new, smaller electric ute for reveal in 2023. At the end of the presentation (around 1:32:50), Volvo CEO Jim Rowan told media in attendance to look closely as animated graphics appeared on the screen behind the EX90. There, shrouded in darkness, we see the rear illumination of the EX90, with flashes of a smaller SUV appearing next to it briefly. Could this be an electric successor to the XC60, perhaps to be called the EX60? It looks like it could be smaller than the XC60, but it's hard to be sure in this dark image. We’ll have to wait until 2023 to know for sure. But Volvo has said it intends to release a new EV each year as it transitions to an all-electric lineup by 2030. Stay tuned. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.