2003 Volvo S60 2.4 Turbo Fully Serviced Runs Excellent Clean Carfax 112k Miles on 2040-cars

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Volvo EX90 EV is heavy on sustainability with new Nordico cabin material

After hints from former Volvo CEO Hakan Samuelson and a trademark application for the term "Embla," we'd suspected the electric successor to the XC90 would be called the Embla. New Volvo CEO Jim Rowan explained that after taking brand familiarity into account, the people who decide the names of things decided "EX90 marks a new iteration on our current nomenclature and is reflective of our transition toward a full-electric lineup by 2030." Another symbol of the transition to all EV all the time is Volvo interior designers believing they have created "one of the most pleasant and elegant car interiors on the market" by "reinterpreting luxury and well-being [through the] essential qualities of Scandinavian design: simplicity, well-being and natural sources." Senior Design Manager Cecilia Stark tells us the nut and bolt of this is Forest Stewardship Council-certified wood, and wool shorn off sustainably raised sheep. Backlit wood trim lines the EX90's cabin, reminiscent of a Scandinavian living room. The wool is a secondary fabric option, buyers first invited to enjoy Volvo's new Nordico synthetic fabric made from ingredients like recycled PET bottles and responsibly sourced pine resin from managed forests in Sweden and Finland. Counting Nordico and other synthetic textiles in places like the carpeting, Volvo says there are "almost 50 kilograms of recycled plastics and bio-based materials" in an EX90 cabin, surpassing the amount for every other vehicle in the automaker's range.  There will be a standard luxury aspect to configuring the flagship crossover, though. Mostly discussed as a feature among super luxury makers who offer so many options that buyers can be overwhelmed into analysis paralysis, Volvo designers have created themed "rooms" encompassing EX90 exterior colors, upholstery, and decor. We don't know how many rooms will be offered, and we're not used to seeing exterior hues included in themed packages, so this should be interesting.     Volvo will show the EX90 on November 9. The crossover is slated to go into production at the automaker's South Carolina plant before the year is out. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Macron hosts BMW and Volvo execs as they consider moving operations to the U.S.

PARIS — French President Emmanuel Macron on Monday will host a dinner with a number of European chief executives to convince them not to move production to the United States, where lower energy prices and the Inflation Reduction Act is proving a lure. European leaders have been alarmed by massive anti-inflation measures passed by Joe Biden's administration, which make tax breaks conditional on U.S-manufactured content and which EU industries say make investment in Europe less competitive. "We're having difficulties with companies which are starting to consider offshoring their production or making future investment outside Europe," a French official said, listing high energy costs and the U.S. legislation as reasons. At the Elysee palace, Macron will seek to convince executives from companies including chemical groups Solvay and Air Liquide, carmakers Volvo and BMW, pharmaceutical giant AstraZeneca and telecom groups Ericsson and Orange to stay in Europe and choose France for their future investments. Macron, who has called on the European Union to launch its own 'European Buy Act' to subsidise European production, has encountered resistance from the more anti-protectionist members of the bloc. It was unclear what Macron would tell the executives to convince them not to move to the U.S. But France has unveiled a number of measures over the weekend to cushion the impact of high energy bills for French companies. European companies have been increasingly strident about the impact of soaring energy prices since Russia's invasion of Ukraine, which has pushed up gas and electricity prices. Eric Trappier, CEO of Dassault Aviation, who heads the French federation of metals industries, warned in the Les Echos newspaper over the weekend that Europe should protect its own industry more aggressively or see it move to other shores. Related video: Government/Legal Green Plants/Manufacturing BMW Volvo

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.