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Volvo Cars laying off 1,300 as it steps up cost cuts

Volvo Cars will lay off around 1,300 office-based employees in Sweden as it steps up cost cutting, the Sweden-based automaker said on Thursday. While an earlier efficiency drive had begun to show results, with Volvo this week reporting a strong first quarter, more efficiency was needed, CEO Jim Rowan said in a statement. "Economic headwinds, increased raw material prices and increased competition are likely to remain a challenge to our industry for some time," he said. The 1,300 positions equate to 6% of Volvo Cars' workforce in Sweden. Rowan told Reuters the group did not yet know how much it would save from the new measures. "We're still working the details through on that," he said in an interview. The company said it had issued redundancy notices for 1,100 employees, while the remaining 200 white-collar positions would be identified following a review of the business across Sweden. It said it also expected to cut jobs and reduce costs across its global operations in the coming months, including its consultancies. Rowan said he could not yet specify where those jobs would be cut, but that focus would primarily remain on office-based positions. "We sell in over 80 countries or so worldwide, so I think there's opportunities for us to become more efficient across the entire network," he told Reuters. Volvo Cars shares were down 3.87% at 0848 GMT.   Earnings/Financials Hirings/Firings/Layoffs Volvo SUV Luxury

12 new cars that will never go out of style

Some cars never go out of style. It’s rare, but it happens. They get old. They get depreciated. But they never stop looking cool.  Some might call them modern or instant classics. Within a few years theyÂ’re no longer the latest and greatest, no longer the flavor of the month, but they remain special. Eternally special. Timeless.  These cars arenÂ’t necessarily going to be worth a fortune someday. However, some may not depreciate as rapidly or as far as other models. But thatÂ’s not what weÂ’re talking about here. These are the cars that enthusiasts will always find desirable from the curbside. TheyÂ’re the cars you end up shopping on eBay late at night 10 years later because you canÂ’t get them out of your head. TheyÂ’re the cars that will forever excite you when you spot a clean one in traffic or in a parking lot.  There are plenty of recent examples over the past couple of decades that could count as instant design classics. But then we got to thinking, what 2021 models will be forever cool to stare at? Which new cars and trucks on sale today will we be shopping on eBay late at night in the 2030s? We kept supercars and other ultra-expensive cars off the list to keep things within the realm of attainability, and ended up with 12 total cars. Lexus LC WeÂ’re not applying a numerical ranking to any of the cars on this list, but if we were, the Lexus LC would be No. 1. There isnÂ’t another car design out there that can stir our emotions the way an LC can when itÂ’s just standing still. This car is a concept design come true in the most beautiful of ways, and itÂ’s a shoo-in winner for Concours events decades into the future. All of this heaping praise, and we havenÂ’t even gotten to the LC 500Â’s intoxicating 5.0-liter V8. It doesnÂ’t win drag races. It wonÂ’t be the fastest around the track against any similarly-priced competition. But none of that matters. ItÂ’s quite possibly the best car you can buy new, and that says it all when it comes to the LC. Chevrolet Corvette It might not be the stunner that the Lexus LC is, but the new C8 Corvette is and will always be a special vehicle. ItÂ’s the first mid-engine Corvette, which instantly cements it into an automotive hall of fame section of sorts. All of the performance stats and specs are there to back up its supercar-like looks, and it remains the best performance bargain on sale today.

Junkyard Gem: 1973 Volvo 1800ES

Volvo began selling cars in the United States with the 1956 PV444, a sturdy unibody machine that looked quite a bit like the 1946 Ford from some angles. Reliable, sensible — maybe stodgy is a better word — PV544s, Amazons and 140s followed the 444s across the Atlantic as the 1950s became the 1960s. Starting in 1961, though, a genuinely sporty Volvo arrived here: the P1800. Members of the P1800 family were sold here through 1973, and I've found one of those final-model-year cars in a Northern California self-service wrecking yard. The P1800 (later named the 1800S and then the 1800E) was based on the chassis of the Amazon and was available only as a coupe from 1961 through 1971. The 1800ES shooting brake version with its all-glass hatch debuted as a 1972 model, and just under 9,000 were built before production ended the following year. The U.S.-market 1800ES got a 2.0-liter pushrod straight-four engine with Bosch fuel injection, rated at 112 horsepower. Its dirtier-running European counterparts got more power. This engine was known as the B20F. First-year Volvo 240s got the B20F as well, before moving up to the SOHC "Red Block" engine for 1976. A 1966 P1800 holds the world record for most mileage on a street car: more than 3.2 million miles. That car has a B18 engine that was rebuilt twice. The highest-mile junkyard car I've found was a Volvo as well, though it only had 626,476 miles. Does the credit go to the cars or to their owners? Yes! This car appears to have sat outside near the Pacific for too many decades; it has the top-down rust associated with living in the salt spray and fog near beaches in NorCal. This is pretty bad, but I've seen worse. This Volvo's final parking spot is just about a mile from crashing ocean waves. Worth restoring? No way, not when much nicer examples sell for a few grand. All the chawed-up seat foam suggests that raccoons and other Golden State wildlife lived inside for quite a while. The good news is that many of this crusty old Swede's components will live on in other Volvos. In fact, one of my regular readers scored a junkyard bonanza when he found this car (and several other vintage Volvos) not long before I arrived. Northern California car graveyards still offer plenty of old Scandinavian steel. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. You tell 'em, Christina!