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Volvo Cars' May sales rise 13%, boosted by electric vehicles

STOCKHOLM — Volvo Cars' sales rose to 68,034 cars in May, up 13% from a year earlier, buoyed by a 27% jump in Europe and a strong performance by its fully electric EX30, the group said on Wednesday. Sales of fully electric and plug-in hybrid models rose 37% to account for 48% of group sales globally, Sweden-based Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement. "This month's sales figures are another measure of our progress towards our sales target of at least 15% growth for 2024," it said. However, sales in the United States and China fell by 5% and 1%, respectively. Shares in the company were up 1.9% by 0755 GMT. Volvo Cars aims to have electric vehicles account for half of its sales by volume by mid-decade and hopes to sell only EVs by 2030.   Featured Gallery Volvo EX30 View 22 Photos Earnings/Financials Green Volvo Electric

Ford tumbles to second worst in Consumer Reports reliability survey, list dominated by Japanese [w/video]

It's no secret that MyFord Touch has had its share of problems since being introduced, but the most recent reliability survey from Consumer Reports shows just how much this infotainment system has affected Ford. Just two years ago, the automaker was in the top 10 for the institute's reliability rankings, but since then, it has tumbled to the second-lowest rung just above dead-last Jaguar. In addition to MyFord Touch, CR also attributes a handful of new products that have had issues right out of the gate.
Compiled from 1.2 million subscriber surveys, this year's auto reliability survey heavily favors Japanese automakers, with eight of the 10 spots hailing from Japan. Toyota brands grabbed the top three spots (Scion, Toyota and Lexus - in that order) with Mazda, Subaru, Honda and Acura filling the next four spots. The only non-Asian automaker cracking the top 10 was Audi at number eight.
Audi climbed a total of 18 spots from last year, and Cadillac and GMC round out this year's top gainers breaking into the top 15. Helping Cadillac's upward movement, the CTS Coupe was named the most reliable domestic car. Lincoln, Volvo and Chrysler join Ford on this year's biggest loser list.

Daimler and Volvo plan hydrogen fuel cell truck production in 2025

LONDON — Daimler's truck unit and Volvo said on Thursday they would start making hydrogen fuel cells in Europe in 2025 via a joint venture, and called for EU policies to help make the zero-emission technology commercially viable. The rival German and Swedish makers of large freight-hauling trucks formed their venture, Cellcentric, in March. They said they would provide more details on large-scale fuel production in 2022, but said Cellcentric was already scaling up prototype output. "Partnerships like Cellcentric are vital to our commitment to decarbonizing road transport," Volvo Chief Executive Martin Lundstedt said in a statement. Aside from the fuel-cell joint venture, the two companies remain competitors. Both hope to test fuel-cell trucks in about three years and start mass producing trucks in the second half of this decade. The European Union has been pushing tighter emission standards, fueling a boom in zero-emission electric cars. But batteries in electric vehicles are very heavy, and hydrogen fuel cells are seen as a potentially more viable zero-emission power systems for long-haul freight in the future. Fuel cells produce electricity from hydrogen, emitting only water. The two truck makers called for the construction of around 300 hydrogen refueling stations suitable for heavy-duty vehicles in Europe by 2025 and about 1,000 stations by 2030. During a video conference with the two firms, European Commissioner for Transport Adina Valean said the commission would this summer propose a revised alternative fuels directive. She said this "will include binding requirements for rolling out hydrogen fueling infrastructure ... and financial support will be available where needed." Automaker Stellantis said this year it would begin deliveries in Europe of its first medium-sized vans powered by hydrogen fuel cells by the end of 2021. Stellantis said at the time that Germany had 90 hydrogen stations and France had 25 — a tiny fraction of the thousands of petrol stations available for fossil-fuel vehicles today. As zero-emission trucks are significantly more expensive than fossil-fuel models, Daimler and Volvo said a "policy framework is needed to ensure demand and affordability." The two companies said policies should include subsidies for "CO2-neutral technologies and a taxation system based on carbon and energy content." Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.