2009 Volvo S80 T6 Awd on 2040-cars

Auto blog

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

2021 Volvo XC60 Review | Swedish design; no assembly required

The 2021 Volvo XC60 may not be the first car to spring to mind when considering European luxury crossovers, but despite lacking the cachet of tier-one manufacturers, it is a solid, safety-first offering with attractive styling and excellent interior design, rising above the mainstream market and rivaling some of the continent’s best. The XC60Â’s cabin is uniquely Swedish: clean, modern and at its tastefully adorned best when done up in earth tones and natural wood trim. You won't confuse it for something from Germany or Japan. Its seats are among the most comfortable and supportive of any luxury car under $100,000, and its Sensus infotainment system is capable and flexible. No Volvo is perfect. Wheel size upgrades tend to disproportionately impact ride comfort, and Sensus can be slow to boot up and respond to inputs. Its powertrains are also lacking in refinement, with even the 400-horsepower plug-in hybrid model (Formerly the T8; now dubbed “Recharge”) lacks polish despite its robust performance. But the XC60 is nonetheless impressive, and thanks to its diverse array of powertrain options and versatile tech suite, this luxury crossover offers something for everybody. WhatÂ’s new for 2021? For 2021, the XC60 is largely carry-over. Models with the T8 powertrain are now referred to as “Recharge,” which is VolvoÂ’s new universal name for its plug-in hybrids. Keyless entry is now standard, along with illuminated door handles. WhatÂ’s the interior and in-car technology like? VolvoÂ’s attractive and refined shape is mirrored in its stylish, welcoming interiors. With premium materials and beautiful design from top to bottom, itÂ’s difficult to find anything negative to say about the XC60Â’s interior. Open-pore wood and real metal are both available depending on trim, and Recharge Inscription models even get an Orrefors crystal gear selector. VolvoÂ’s Sensus infotainment suite is compatible with both Android Auto and Apple CarPlay, and also offers robust integration with phones via Bluetooth, including speech-to-text, allowing it to read and compose text messages without outside assistance. Sensus lacks polish in some areas, offering slow boot-up times and menus that can be difficult to navigate on the road. Still, several of our editors appreciate its touchscreen layout and find it less overwhelming than admittedly quicker and flashier systems like Mercedes' MBUX and BMW's iDrive.

Volvo XC40 gets the merest hint of a mid-cycle update

Scandinavian design is known for its subtlety and minimalism, but even by Nordic standards the Volvo XC40 lineup has received the tiniest wisp of change. Volvo Germany uploaded the new crossover a little early by the looks of it. In front, a slightly reshaped bumper frames Volvo's new Pixel headlights and some T-shaped fog light housings. The grille remains on the mild hybrid and plug-in hybrid XC40 models, but the XC40 Recharge gets the same solid faceplate as on the C40 Recharge. We can't see a difference anywhere else outside save for the wheels; the updated XC40 Recharge sits on the 20-inch aero wheels that debuted on the C40 Recharge, while the hybrid models get a selection of new wheel designs. Looks like Volvo's reworked exterior pacakges, dropping Inscription and R-Design (at least in the UK and French markets that still show the non-facelifted car) for Essential, Core, Plus, and Ultimate packages, the number of choices depending on the model. After that, Bright and Dark trim molding treatments add flair or shadow to the exterior. The battery-electric XC40 Recharge in the U.S. presents the choice of Plus and Ultimate.   The Sage Green and Fjord Blue hues from the C40 make their way to the XC40 Recharge paint palette as well. Inside, tailored wool joins the Microtech and leather dressing options, and high-zoot configuring can get the Orrefors gear selector. The Android-based operating system has been ported to the nine-inch infotainment screen, too.  Since Volvo hasn't finished rolling out this vehicle in Europe, it's likely we're not going to see it until sometime next year, perhaps as a 2023 model. We expect it will be joined by the refreshed XC60 with the larger battery and extended all-electric driving range. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.