2006 Volvo S60 2.5l Turbo Auto on 2040-cars

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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

Junkyard Gem: 1976 Volvo 244 DL

Volvo did well enough selling the PV444/544, Amazon and 140 in the United States, but it was the Volvo 200 Series that really launched Goteborg iron into the American big time. Introduced here as a 1975 model, the 200 stayed in production for nearly two full decades and remains the most instantly recognizable Swedish car ever made. Here's an early-production 244, found in a Denver-area car graveyard not long ago. The 200 Series could be considered an update of the late-1960s-vintage 140 Series, since it's essentially the same car from the A pillars back. The main difference between the two is the MacPherson strut front suspension in the 200 Series. Volvo went through several naming systems for U.S.-market 200 Series cars over the decades, with the initial one being the easiest to decipher: a three-digit number followed by a two-character trim-level designation. The first digit in the number represents the series, the second represents the number of engine cylinders and the third the number of doors. There were six-cylinder 262s, 264s and 265s sold in the United States from 1976 through 1981, powered by the same PRV V6 engine that went into the DeLorean DMC-12, so it's incorrect to refer to all 200 Series Volvos as 240s. This car is the best-selling member of the 200 family, with a four-cylinder engine and four doors. This is a fuel-injected 2.1-liter SOHC straight-four, rated at 98 horsepower and 110 pound-feet; the 1975 240s received the 2.0-liter pushrod engine from the 140. There were two transmissions available in the 1976 240s: a four-speed manual or a three-speed automatic. This car has the automatic. Even thought it's a base DL model, this car's first owner paid an extra $456 for air conditioning (about $2,580 in 2024 dollars), on top of the $500 premium for the automatic transmission ($2,829 after inflation). That pushed the cost for the car up to $7,551, or $42,717 in today's money. You could get a swanky new 1976 Buick Electra Limited four-door hardtop for just $6,852, but those sensible Volvo buyers knew it was worth paying a premium for genuine Scandinavian safety and build quality. European-market headlights were strictly forbjuden on American roads during the early Malaise Era, according to federal safety regulations, so Volvo had to install these unsightly sealed-beam rigs on their cars here.

Volvo's next-generation cars will feature gaming-derived graphics

Volvo joined forces with Epic Games, the company that created the Fortnite franchise, to give its next-generation cars a faster infotainment system with vastly improved graphics. Using technology gleaned from the world of gaming promises to unlock a long list of new features. Don't expect to see a Fortnite-themed display in the XC90's replacement; the partnership isn't going that far. Volvo explained that it will use the Unreal Engine, a real-time 3D creation tool developed for industries outside of the gaming world, to develop the digital interface it will program into future additions to its range. This technology will allow it to deliver richer colors, sharper renderings and new 3D animations. Good graphics aren't worth much if the software is annoying to use, so Volvo will power its next infotainment system with the third-generation Snapdragon Cockpit Platforms designed by Qualcomm. We're told that the end result is a system that's over twice as fast as the one Volvo currently uses, and whose graphic generation and processing capacities are up to 10 times faster. Volvo hasn't released a video of the software in action yet, but we won't have to wait long to see it: the feature will debut in a new flagship model due out by the end of 2022. This isn't the first time that Volvo has enlisted the help of a technology company to design an infotainment system. Its current cars (like the C40 Recharge) are fitted with Google's Android Automotive OS infotainment system. And, the worlds of gaming and in-car technology have collided before: Nissan notably asked Polyphony Digital, the company behind the Gran Turismo franchise, to design the GT-R's display. Featured Gallery Volvo's Epic Games-powered infotainment system Volvo Technology Infotainment