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Volvo returns to profitability

Ford sold Volvo to Zhejiang Geely Holding Group Limited in 2010. Just two years later, Geely announced an $11-billion investment in the Swedish carmaker, its charismatic fugleman Li Shifu saying, "We want to revive Volvo and give the brand its strength back." Two years later, after having introduced the Concept XC Coupe at the Detroit Auto Show this week, Volvo CEO Håkan Samuelsson (above, second from right) declared the company profitable again after a solid 2013 and predicted a positive 2014.
Intending to break even on operating profit in 2013, Volvo exceeded expectations and landed on the plus side due to a mix of factors. US sales declined 10.1 percent for the year to 61,233, that number still making us Volvo's largest market, but Chinese sales were up nearly 46 percent to 61,146 units, and even its home market saw a bump of 0.8 percent; total sales for the year were 427,840, a margin of 1.4-percent over the previous year. Volvo was able to do more with the tiny gain and reverse its half-year operating loss because of a global cost restructuring and thorough revamp of its Chinese distribution network. An announcement of 2013's financial results will come in March.
Bullishness on 2014 comes from the company's intention to focus on its two biggest markets with new models, new technology and more spending. The first product of an independent Volvo, the new XC90, will be revealed later this year on the new SPA architecture. On top of the Sensus Connect infotainment system, Volvo will add driver-aid systems like adaptive cruise control with steer assist and night-time pedestrian detection. It also has a new North American CEO and will spend more on marketing and communications here. In China it will begin to feel more effect from the two Chinese factories opened last year - it has three in the country - and, if need be, can take advantage of more advantageous exchange rates by exporting from China instead of the US. Said Samuelsson of what he expects in the US in 2014, "we will outperform the market."

Volvo confirms unnamed US model reveal for NY show

Tucked into the press release for the "display debut" of the Volvo V60 Plug-In Hybrid at the New York Auto Show, Volvo snuck in a single line announcing that it will also be introducing a new model for the North American market. As much as we'd love to see the svelte V40 on American roads, we're pretty sure the automaker is looking to fill its US station wagon void with the V60.
The 2014 Volvo V60 is part of a comprehensive lineup update that was unveiled earlier this month in Geneva, and it would give Volvo dealers a conventional wagon (not including the XC70) for the first time since the V70 and V50 were killed off. We'll still be keeping our fingers crossed for the stylish V40 hatchback or the fuel-efficient V60 diesel hybrid, but we have to wait until next week to find out for sure.

Nissan Frontier and a mid-engine Mustang | Autoblog Podcast #622

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale and Associate Editor Byron Hurd. They discuss news about the 2020 and 2021 Nissan Frontier, as well as a mystery Mustang and classic luxury coupes. After that, they talk about cars from the fleet including Chevy Silverados and the long-term Volvo S60 T8. Autoblog Podcast #622 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2020 and 2021 Nissan Frontier updates 1966 mid-engine Mustang prototype Personal luxury coupes Cars we're driving 2020 Chevy Silverado 1500 Trail Boss 2020 Chevy Silverado 2500 HD 2020 Volvo S60 T8 plug-in hybrid Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: