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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

Google's new HD Maps to launch with Volvo EX90 and Polestar 3

Volvo and sister company Polestar will be partners in launching Google's new HD Maps service -- an integrated solution designed specifically for automotive applications that pulls realtime data to improve vehicle navigation. The new tech will launch in Volvo's all-electric EX90 and the Polestar 3. HD Maps will integrate sensor data with real-time traffic information to better enhance route planning and will talk to the onboard Pilot Assist semi-autonomous suite to provide highly accurate information about the vehicle and its surroundings. Volvo says the new suite will be available on models equipped with its Pilot Assist system. "The addition of Google HD Maps in our future car lineup marks an expansion of our strategic collaboration with Google, reflecting our commitment to work with technology leaders," says COO and Deputy CEO Javier Varela. "Implementing Google HD Maps in our upcoming cars will help us offer our drivers a more enjoyable driving experience and in future contribute to the introduction of safe autonomous driving." "Building on our long history of mapping the world, Google’s new HD map is designed specifically for automakers and provides comprehensive lane-level and localization data that is crucial to powering the next generation of assisted and autonomous driving systems," says Jorgen Behrens, VP and general manager of Geo Automotive, Google. "WeÂ’re excited to continue partnering with leading automakers like Volvo Cars to improve the safety and comfort of drivers everywhere." Volvo's existing relationship with Google brought us the Android Automotive operating system (not to be confused with Android Auto, the app) currently rolling out across the brand's lineup. In fact, the two companies announced that the latest over-the-air update the company will deploy includes Google Assistant updates. It is expected to reach 350,000 customers worldwide.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Volvo readying stretched next-gen S80 in lieu of 7 Series rival?

The debate about what direction to take perennially struggling Volvo has been raging for years. Should the Swedish marque go upscale and try to chase other European luxury brands, or should it stick to its safety-minded knitting? Should it adopt flashy new styling and a more overt performance bent, or keep it Scandinavian clean and responsible? Chinese parent brand Geely apparently has designs on making Volvo a full-fledged BMW rival - particularly in its homeland - including pushing for a range-topping 7 Series competitor. However, Volvo execs have been repeatedly pushing back on the idea. In fact, it's understood that this philosophical crisis contributed mightily to the high-profile departure of Stefan Jacoby, the company's CEO until the middle of 2012 (Jacoby has since rebounded to head international operations for General Motors).
There doesn't seem like any middle path in this debate, but that apparently isn't going to stop Volvo from trying. According to a sprawling Reuters report, Volvo will placate Geely chairman Li Shufu with a stretched and lux'd up version of the next S80. Yet Li still isn't completely satisfied, and he's said to be pushing for "a plusher and bigger model he calls the S100" to rival cars like the Audi A8. For the moment, it is not clear if the larger S80-based model will be a global offering, or just another one of China's many home-market, long-wheelbase specials.
The question of future Volvo styling is up for debate as well. According to Reuters, "Insiders say Li is a big fan of the new styling that design chief Thomas Ingenlath has brought to Volvo" (The latest example, the Concept Coupe from this week's Frankfurt Motor Show, is shown above.) Yet there are those who worry whether the company's new styling strategy is showy enough to appeal to China's wealthy. Chairman Li would still like to see a range-topping sedan for "show-off people," but Volvo's management doesn't want to go down that road. Clearly, this won't be the last we hear about the company's existential boardroom battles.