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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.

Paul Newman's overachieving 'Volvette' up for bid

For the longest time, it was the ultimate suburban family hauler. But this particular Volvo wagon had a life far beyond the Wegmans parking lots and high school playing fields. This particular 1998 V90 belonged to no ordinary soccer mom or dad, as Paul Newman owned it. Maybe he raced it around the rural roadways of Westport, Connecticut, with kids is tow or to pick up pizzas. The actor, who owned a race team in and out of three decades and racked up four SCCA National Championships, was given the “Volvette” as a surprise gift from one of his teams in 2007, so-called because it was crammed with a 400 horsepower 6.0-liter Chevy LS2 engine and four-speed automatic found in sixth-generation Corvettes from 2005 to 2007. The car, as well as dozens of artifacts of NewmanÂ’s racing career including rings, medals, art, and memorabilia, are on auction currently at RM Sotheby's online: High Speed: Paul NewmanÂ’s Racing Legacy. Bidding closes June 13. The V90 is one of two Newman machines on the block. Estimated winning bid is expected to be $20,000 to $25,000. NewmanÂ’s affection for Volvos dated back some time: his first pumped-up Swedish example was a1988 Volvo 740 powered by a 3.8-liter turbocharged V6 from a Buick Grand National. The car recently sold on Bring a Trailer for $87,777. The middle-child swapped Volvo was a 1995 960 with a supercharged 5.0-liter Mustang V8. Newman famously convinced friend David Letterman to get one (Letterman once co-owned Rahal Letterman Lanigan Racing). Quipping that Volvo station wagons were “just as ugly as homemade shoes,” Letterman nevertheless ordered one and went on to rave about it. With upwards of 400 horsepower or more, one such modified Volvo 960 tested by Car and Driver was as fast as a mid-Â’90s Mustang Cobra. The hot-rod Volvo currently on offer accommodates Porsche 911 components in the front end and mods to the driveshaft. Says the auctionÂ’s description, “The exterior was kept unchanged, as Newman was known to prefer a stock look with his Swedish station wagons.” Sadly, Newman had not enough years left to sufficiently enjoy the Volvette. He died of cancer at age 82 a year after it was given to him. Related video: Celebrities Buick Volvo Auctions Automotive History Wagon

Volvo EX90 SUV will have interior radar system to detect kids, pets

Volvo has introduced a number of important safety features in its vehicles throughout the years including the first three-point seatbelt back in 1959. But now the company has developed something a bit more techy with what it's calling the world's first interior radar system for cars.  Set to debut on its upcoming flagship EX90 electric SUV, Volvo's new radar system is designed to monitor both the cabin and trunk of a vehicle in order to prevent the car from being locked while anyone is still inside. The idea is to guard against situations where pets or children may be inadvertently trapped inside a car on a hot day, with the car surfacing reminders if it recognizes that there are still occupants inside when being locked. Additionally, the car's climate control can also be set to stay on if a passenger is detected, further lowering the risk of heatstroke.  While the thought of leaving a pet or child inside a car on a hot day is unimaginable to most people, it can happen to anyone. In its press release, Volvo cited statistics from the U.S. where more than 900 children have tragically died due to hyperthermia since 1998.  Volvo's senior technical specialist for injury prevention Lotta Jakobsson says, “No one chooses to be distracted or tired, but we know it can happen. WeÂ’re all human and distraction is a fact of life. With the help of cutting edge technology, weÂ’ll support you when youÂ’re not at your best and help you avoid leaving family members or pets behind by accident.” In order to cover as much of the inside of the EX90 as possible, Volvo says it will use multiple radars positioned in the car's overhead console, roof-mounted reading lamps and in the trunk that can detect "sub-millimeter" movements. Unfortunately, we won't get a more detailed idea of how Volvo's new interior radar system really works until the EX90 is officially revealed on November 9th. But given that the new feature will come standard on the company's forthcoming EV (where allowed by regulation), we're hoping to see similar systems become basic equipment on more cars and makes in the future.