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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.

Volvo joins Australia's V8 Supercars series [w/video]

It was just a rumor, but now it's official, mates: Volvo will be joining the V8 Supercars series in Australia with an official team for 2014. Volvo is partnering with Garry Rogers Motorsport and its own Polestar tuning firm to create Volvo Polestar Racing.
A V8 engine will be produced by the Swedish arm of the racing effort, and will be supplied to the Garry Rogers team, which will get the whole shebang ready for the track. The outfit will be running two V8 Supercars "based on the production S60 road car." Considering that the S60 uses a range of transversely mounted engines with four, five or six cylinders (powering either the front or all four wheels) while the new race car will employ a V8 sending about 650 horsepower to the rear wheels, make that very loosely based on the production S60...
Volvo claims this is the first factory-backed entry in the V8 Supercars series from a luxury brand. We should note, though, that Mercedes-Benz is represented in the series with an E-Class sedan, but that outfit isn't quite an official entry from the car's German parents. In any case, you're encouraged to watch the teaser video and read the press release below for all the details.

2023 Volvo XC40 and XC40 Recharge Review: Gas or electric? You can’t go wrong

Pros: Cute and functional design; efficient powertrains; a good overall value Cons: Recycled materials can feel cheap; Recharge has average EV range; doesn’t qualify for federal EV tax credit The 2023 Volvo XC40 is arguably the most visually attractive subcompact luxury SUV out there. ItÂ’s boxy, proportioned well and features the trademark Swedish design we love. Volvo prodded this yearÂ’s XC40 with a number of updates, and now the previously ho-hum powertrains are a little nicer to live with (if hardly zesty in their performance). Of course, you can bypass them altogether with the all-electric XC40 Recharge that shares its design, interior features and utility with the gas model, but really amps up the fun with sprightly acceleration and better handling. Oh, and of course, doesnÂ’t require stops at the gas station or emit CO2. While the XC40 isnÂ’t the biggest in the segment, itÂ’s not the smallest either. This, plus its utilitarian proportions make it more useful than it may look on the outside. Fans of Google tech will enjoy the Google-based infotainment system, but you can still use Apple CarPlay for streaming apps from the Apple ecosystem. All told, the XC40 is one of our favorite subcompact luxury SUVs, and indeed, one of the few we recommend. It has the size, style and quality that justifies its higher price over various non-luxury entries. Plus, the gasoline versions, particularly the upgraded B5, provide stronger value than its various competitors. Even the electric Recharge, which carries a steep price increase, at least provides a strong performance upgrade for the money.   Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2023? The XC40 lineup, including the XC40 Recharge, get a mild refresh for 2023. Small styling changes include a new front bumper, frameless grille and “pixel” LED headlight technology. New colors and wheels come into the fold, too. Both of the gasoline-powered XC40s gain 48-volt mild-hybrid systems to aid efficiency. Inside, Volvo adds non-leather upholstery to the Recharge, and all models adopt the Google-based infotainment system that was previously a Recharge exclusive. What are the XC40Â’s interior and in-car technology like?