2002 Volvo S60 Base Sedan 4-door 2.4l on 2040-cars

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Volvo Cars' earnings top pre-pandemic levels in boost ahead of possible IPO

STOCKHOLM — Volvo Cars reported a return to profit in the first half as demand for electric cars pushed earnings above pre-pandemic levels, putting the carmaker on a firmer footing as it considers a possible IPO this year. Sweden-based Volvo, owned by China's Geely Holding, said on Friday it made a first-half profit of 13.24 billion Swedish crowns ($1.52 billion), more than double its profit of 5.52 billion crowns in the corresponding period of 2019, before the coronavirus struck. Like several other automakers Volvo has been forced to cut production due to global shortages of semiconductors, but it said a strong market recovery from last year's plunge during the pandemic helped first-half revenue rise by 26% to 141 billion crowns. "The pandemic effect, when it comes to our business, we don't see it anymore," Chief Executive Hakan Samuelsson told Reuters. "All our employees have not been vaccinated yet, but sales and production are really back to where we were." The company, which is eyeing an initial public offering before the end of this year, said all its regions showed solid growth and improved market shares, with chargeable cars representing 25% of total sales. Samuelsson said the evaluation process ahead of a potential IPO was progressing according to plan, adding the firm was still considering listing on the Stockholm stock exchange in the second half of 2021. "The company stands stronger than ever and we are in the midst of a very substantial transformation ... It has to be financed and access to the stock market is of course positive then," Samuelsson said. Volvo Cars had been heavily affected at the start of the pandemic, plunging to a 989 million loss in the first half of 2020. The company on Friday kept its second-half outlook for flat sales and revenue growth year on year, "unless supply of semiconductors improves". It said earlier this month that first-half sales rose 41% to 380,757 cars. The Gothenburg-based firm plans to become a fully electric car maker by 2030, sell 600,000 battery electric vehicles at mid-decade, and build a European battery gigafactory in 2026. ($1 = 8.6821 Swedish crowns) (Reporting by Helena Soderpalm; editing by Niklas Pollard and Susan Fenton) Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Volvo introduces 2022 C40 Recharge crossover

Volvo confirms V60 Sportswagon engine lineup for US

In addition to revamping its entire 2014 lineup, Volvo has already promised us that we'll be getting the V60 wagon early next year, but now the Swedish automaker has confirmed that sexy wagon will go on sale in January. If that's not good enough for you diehard station wagon models, there's even better news: An available R-Design model will be the "fastest and most powerful wagon in Volvo history."
The V60 R-Design will have a turbocharged inline six-cylinder engine under the hood producing 325 horsepower and 354 pound-feet of torque. Other engines available in the wagon will include the company's well-regarded turbo inline-five along with a new turbo inline-four wearing the Drive-E name. Volvo says Drive-E can "offer the opportunity" to add electrification, but there's no word as to whether or not the US will receive a V60 plug-in model. Also not yet released are fuel economy, vehicle specs and pricing. More information about the V60 and its powertrains are available in the official press release posted below.

Two more Volvo Concept C Coupe teasers drop [w/videos]

Volvo is planning to take the wraps off its Concept C Coupe tomorrow ahead of an official unveiling at the Frankfurt Motor Show. If you just can't wait until then, though, Volvo has released two more teaser videos for the new concept.
Like the video from earlier in the week, we get a couple more sneak peeks of the stylish two-door including our first glimpse of the interior. The highly conceptual concept likely hints at a future coupe for the Swedish automaker, and after dropping the C30 and C70 from its lineup over the last couple years, this can't come soon enough. Scroll down to watch both new teaser videos, and stay tuned to see more on this car tomorrow.