1998 Volvo S70 Automatic 5 Cylinder No Reserve on 2040-cars

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Volvo might join the tide of automakers turning to hybrids and PHEVs

Volvo had been the clearest and most direct of all automakers about switching to a purely electric lineup.  Less than a year after getting the XC40 Recharge to market, on March 2, 2021, the company wrote that it "intends to only sell fully electric cars and phase out any car in its global portfolio with an internal combustion engine, including hybrids." Two years later, with the C40 on dealer lots and the EX90 and EX30 in the pipeline, CFO Bjorn Annwall removed the wiggle room of "intends" by pledging Volvo won't "sell a single car" that isn't purely electric after after 2030, emphasizing the target to Automotive News with, "There's no ifs, no buts." Problem is, there are always ifs and buts, and Volvo might be the next automaker needing a tactical retreat to deal with them. After speaking to members of Volvo's U.S. dealer body, Automotive News reports a softening of the 2030 target. The most Volvo has said publicly came from CEO Jim Rowan, who told analysts during a recent investor webcast that because the EV transformation is going to take time to scale, hybrid powertrains could "form a solid bridge for our customers that are not ready to move to full electrification." According to AN, an anonymous insider said plug-in hybrids could take the lead for the next 10 years as global governments and global markets align on electric vehicles. If this turns out to be the case, Volvo would join a strengthening trend as automakers rush to develop hybrids and PHEVs to launch in the next three years.   Volvo would also be well positioned for the turn, considering buyer sentiment to the hybrids and PHEVs it's sold for many years now. The SPA1 platform supporting every Volvo with an internal combustion engine remains sound. Given development dollars and improvements in battery technology, there's no reason Volvo couldn't ride an evolution of the architecture into the next decade, and it can also take advantage of platforms and toolkits from parent company Geely. Only a year ago, Geely and Renault agreed on a joint venture to invest 7 billion euros for researching new technologies to make non-hybrid and hybrid gas engines more efficient.  This is clearly what U.S. dealers want based on their comments to AN, one retailer going so far as to say, "We will have to [stick with hybrids], or we will die."  Short term, Volvo's enduring the same pain felt by other automakers.

Leno shows off his current project cars

When your car collection grows to the enormous size of Jay Leno's, adding the usual muscle cars or European exotics loses the allure. It becomes necessary to start taking the things in weird directions. Leno is proving just that with his latest tour of many of the ongoing projects currently happening in the garage. With everything from Harley-Davidson generators to '50s hot rods on display just in this short video, there's something any fan can love. The place is like an automotive wonderland. For most people any one of these projects would be an absolute dream. For example, Leno has a copy of a one-off Mercedes-Benz racecar transporter that is nearly ready to drive. Another project hasn't even started yet but already seriously piqued our interest. Leno obtained a very ratty 1966 Volvo 122S wagon, but rather than just a restoration he's has a plan to get a V8 with a flat-plane crank from Volvo performance specialists Polestar. Another project on the way should provide a significant upgrade in performance, while still being quite green. Leno's team has already rebuilt the frame and wooden body from a 1914 Detroit Electric, and with that work done they've started dreaming of a modern drivetrain for it. One proposed candidate for the swap has been to install motor from a Nissan Leaf and a bank of lithium-ion batteries. News Source: Jay Leno's Garage via YouTube Aftermarket Celebrities Mercedes-Benz Volvo Electric Performance Classics Videos Jay Lenos Garage detroit electric

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