Hakan Samuelsson / Chief Executive Officer / Volvo Cars
Volvo Cars CEO and President Håkan Samuelsson has extended his contract with the carmaker by two years, reports newspaper Dagens Industri. The 64-year-old has had nearly three years in the position. Under his leadership the company has returned to profitability and has been expanding its operations in Sweden, China and the US. It is also in the process of a complete renewal of its product range. Last week Volvo Cars reported an operating profit of 1.66 billion kronor for the first half of 2015.
Samuelsson will be 67 years of age by the time his new contract runs out, according to the newspaper.
Besides Volvo Cars, he has previously worked for Scania, Man and Scandia, in Latin America and across Europe.
He took over at Volvo from German Stefan Jacoby in October 2012.
Volvo Car Group reported a full-year operating profit of 1,919 MSEK for 2013 and will stay in the black and grow sales in 2014, President and CEO Håkan Samuelsson said today. Retail sales are forecast to grow by “a good” 5 per cent in 2014, Samuelsson added.
In 2013, Volvo Cars continued its transformation, increasing retail sales for the year by 1.4 per cent to 427,840 cars. Revenue over the period came in at 122,245 MSEK (124,547 MSEK), while net income amounted to 960 MSEK (-542 MSEK).
“We are delivering on the plan we set out four years ago: focus on profitability, revitalise the brand, reinforce our product strengths and leverage our potential and position in China,” said Samuelsson. “2013 was a year of groundwork for Volvo Cars, successfully preparing the way for the future. This year our total sales are forecast to increase and we will – with the XC90 – reveal the first product of a portfolio that will delight our customers, paving the way for the company’s future growth.”
Looking ahead, sales in 2014 will continue to grow, driven by steady growth in key markets and an improved product offer. In China, Volvo Cars will build on a strong sales performance in 2013, when sales rose 45.6 per cent to 61,146 cars. New models like the S60L and the sales start of the V40 Cross Country as well as a further expansion of the dealer network will support Volvo Cars’ continued growth.
In the US, Volvo Cars now has an improved customer offer with a line of fully refreshed S60, XC60, XC70 and S80 models, the sales start of the V60 sports wagon and the roll-out of the highly efficient Drive-E powertrains. Market circumstances in Europe are expected to remain challenging, but Volvo Cars aims to retain its market share in the region.
Martin Lundstedt / Chief Executive Officer / Volvo Group
22 April 2015 at 10:15am
By: Niklas Magnusson and Elisabeth Behrmann
Stockholm - Volvo AB, under shareholder pressure to boost profit margins, replaced Olof Persson as chief executive officer with Martin Lundstedt, the top executive at rival truckmaker Scania AB.
Jan Gurander, Volvo’s chief financial officer, will serve as president and CEO in the interim until Lundstedt assumes the position in October, the Gothenburg, Sweden-based company said in a statement on Wednesday. Volvo shares surged the most in more than six years.
The sudden change in leadership follows efforts by Volvo shareholder Cevian Capital AB to lobby the truckmaker to streamline operations and boost margins. Volvo is intensifying a push for growth and increased profitability, as the world’s second-largest maker of commercial vehicles faces increased competition from Volkswagen AG, which bought Scania and Germany’s MAN SE in recent years. Persson led the truckmaker for almost four years.
“After three years of focus on product renewal, internal efficiency and restructuring, the Volvo group is gradually entering a new phase,” Volvo Chairman Carl-Henric Svanberg said in the statement.
Volvo’s shares soared as much as 16 percent, the biggest jump since February 2009, and were up 13 percent to 114.70 kronor at 9.13am in Stockholm. That pushed the stock’s gain for the year to 36 percent, valuing the manufacturer at 244 billion kronor ($28 billion).
Volvo also reported Wednesday that operating profit, excluding restructuring charges and a gain from the sale of shares in Eicher Motors Ltd., was 4.6 billion kronor in the first quarter. That boosted the margin to 6.1 percent from 3.9 percent. Including those items, operating profit was 7.07 billion kronor.
Net sales in the first quarter rose 14 percent to 74.8 billion kronor. Truck orders rose by 3 percent in the period, while construction equipment orders dropped 24 percent. The company posted a surprise fourth-quarter loss last year, partly due to a 30-percent plunge in construction-equipment deliveries, citing “weakness” in emerging markets.
Lundstedt has spent his career at Soedertaelje, Sweden-based Scania. He has been president and CEO of Scania since 2012 and now reports to Andreas Renschler, the former head of Daimler AG’s trucks division, the biggest in the world. Renschler joined Volkswagen this year to push integration between Scania, MAN and VW’s own commercial-vehicles business.
After Persson refocused Volvo on its truck and heavy-equipment divisions, including renewing models and expanding in China, “the Volvo group is considerably better positioned to compete for leadership in our industry”, Svanberg said.
* With assistance from Terje Langeland in Tokyo
Volvo Automobile Gallery / Collection Of Great Cars / Take a Look
Volvo has a Great Origin of Automotive Nationality especially Sweden / Gothenburg / The Photography Below is Classic Manufactured Showmanship Photos from Volvo.They have Great Security & Comfortability.
These Cars was build on Swedish Design. Elegance from these Models graphically protocolated. They are all Models. Volvo The Trademark is truly successfully in the past decade from now.
Volvo Routine Standart Technology is worldwide known as Highly Development under Aspirations of A Family Bodywork
News / Volvo
Volvo reports record sales in 2015 after the company sold 503,127 vehicles worldwide, breaking the half a million cars mark for the first time in its history .
The automaker reported strong sales from all its important markets. The global figures increased rapidly in the later stages of 2015 mostly thanks to the launch of the new XC90 SUV.
In the previous year, sales in Europe rose 10.6 percent, to 269,249 cars, representing 53.5 percent of the global volume. While in the U.S sales increased by 24.3 percent, in China, due to the environmental problems the country faces, sales increased only by 11.4 perfect in the fourth quarter.
With the new S90 premium sedan being revealed to the public at the North American International Auto Show in Detroit, in just four years, the company will have renewed its entire model range.
Hakan Samuelsson, president and CEO of Volvo Cars stated that “I am delighted to report that 2015 was a year of record sales. Now with a successful 2015 behind us, Volvo is about to enter the second phase of its global transformation. Once completed, Volvo will have ceased being a minor automotive player and taken its position as a truly global premium car company. More records will tumble in coming years.”
Volvo’s future plans are to reposition its brand and to become a major rival in the automotive market. First of all, the company will continue to revive its operations in the U.S. and develop its manufacturing footprint. Second of all, Volvo will pursue its growth in China, double its market share in Europe and increase its sales globally to 800,000 cars.
In the final phase, the Swedish company plans to introduce an entirely new model range that will help the carmaker to maintain its position as the leader in car safety and autonomous drive technologies.
In the coming years, Volvo’s 90 and 60 series will be built on its Scalable Product Architecture and the company will also implement a global small-car strategy by introducing the quality and technical sophistication to smaller cars on its Compact Modular Architecture.
The automaker will also make progress in the global hybrid market with a series of four- and three-cylinder hybrid engines and develop an all-electric car for the first time.
Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car brands in the world with sales of 503,127 in 2015 in about 100 countries.
Volvo Cars has been under the ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010.
It formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely Holding. As of December 2014, Volvo Cars had over 26,000
employees worldwide. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden
. Volvo Cars head office for China is located in Shanghai. The company's main car production plants are
located in Gothenburg (Sweden), Ghent (Belgium) and Chengdu (China), while engines are manufactured in Skovde (Sweden) and
Zhangjiakou (China) and body components in Olofstrom (Sweden).
2014 Volvo S80 T5 / Exterior and Interior / Classic / Black Lacquer / Professional Body & Chassis. My father also once drove a S80 in green color and creme colored interior.
Great Car. Volvo itself is a great establishment belonging to automobile manufacture. It''s the globally world leading car-producer as far as luxurious automobiles which does
also look brillant and posh. The chassis is aligned and at good constitution.
Volvo Cars North America,LLC
Volvo Cars of North America, LLC (VCNA), based in Rockleigh / NJ / 07647 ., is a subsidiary of the Volvo Car Corporation of Goteborg, Sweden. VCNA provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States, and oversees Volvo operations in Canada, Mexico and Puerto Rico. Volvo has been building cars with safety in mind for 80 years.
Volvo Cars of North America, LLC / Lex Kerssemakers
Mr. Lex Kerssemakers has been the Chief Executive and President of Volvo Cars of North America since January 2015. Mr. Kerssemakers has been Senior Vice President of Americas at Volvo Cars of North America, LLC since January 2015. Mr. Kerssemakers served as Senior Vice President for Product Strategy & Vehicle Line MANAGEMENT at Volvo Cars of North America, LLC. He served as Senior Vice-President of The Americas Region at AB Volvo since January 2015. He has been the Chief Executive Officer of North America Unit at Volvo Car Corporation since January 21, 2015. He served as Senior Vice President of Product Strategy & Vehicle Line Management at Volvo Car Corporation and Volvo Car UK Limited. Mr. Kerssemakers serves as Senior Vice President of Brand, Business & Product Strategy at Volvo Cars of North America, LLC. He has 25 years of experience from key positions within Volvo Cars, giving him a deep understanding and knowledge about the product planning process. Mr. Kerssemakers served as the Head of Product Strategy & Vehicle Line Management at Volvo Car Corporation since January 1, 2011 and its Senior Vice President of Product Strategy and Vehicle.Kerssemakers has worked in the auto industry for over 30 years and has held senior positions at Volvo for the past 16 years. His most recent role was head of product strategy and vehicle line management. "I am looking forward to this challenge," Kerssemakers said in a statement. "The U.S. is a key market for the development of the group and today we get back onto the front foot.”
Volvo has decided to join the ranks of automakers with offices in Silicon Valley.
The Swedish car company is in the process of opening a research center in Mountain View, Lex Kerssemakers, CEO of Volvo’s U.S. division, said in an interview. The company is hiring some 70 engineers for the office, he said.
“We’re moving in as we speak,” he said.
Volvo, which is owned by Chinese automaker Geely but operates largely independently, has had an office in Camarillo for about 30 years that focused on car design, Kerssemakers said. Within the last three to four years, engineers based in that office also started to work on car infotainment systems, he said. Those engineers frequently have been traveling to the Bay Area to collaborate with tech firms here.
Among those was Apple. Volvo engineers worked closely with the iPhone maker to integrate CarPlay into a new infotainment system in its XC90 sport utility vehicle, Kerssemakers said. That experience, plus a recently announced joint venture agreement with Uber to develop self-driving cars, convinced Volvo to set up shop in the Bay Area. The new office “is literally based on the success we’ve had in the last two or three years working together with companies here in the Bay Area,” he said.
Engineers in the new center will focus on electric car technology, infotainment systems and autonomous vehicle research, he said.
Volvo is the latest car company to open a research center in Silicon Valley. General Motors, Volkswagen, BMW and others have operated in the area for years. Ford was a latecomer when it opened up a small office in 2012, but it later grew that presence to more than 100 people.
A large and growing proportion of a car’s value is tied up in the software that underlies its various systems, said Brian Brennan, a senior vice president of Silicon Valley Leadership Group, a trade organization for the area. Meanwhile, autonomous vehicles are considered to be the cars of the future, and Silicon Valley is ground zero for both the software industry and autonomous vehicle research, he said.
The automakers realize that by opening offices in the Bay Area and tapping into the research and development already going on here, they “get a little closer to controlling their destinies,” Brennan said. “This is where the artificial intelligence and the software is being generated.”
Volvo’s Mountain View office will join its research centers in Shanghai and Gothenburg, Sweden. The Mountain View office will take the lead on electric car and infotainment research.
But which research office will focus on specific research areas will vary from project to project, Kerssemakers said. For example, Volvo already has an ongoing autonomous vehicle research project in the works in Gothenburg.
The Volvo XC90 / 2016 / North American Truck of the Year
Fifty-three automotive journalists from the United States and Canada voted for the luxury SUV for being a benchmark in its segment, based on factors including innovation, comfort, design, safety, handling, driver satisfaction and value for the dollar."We are absolutely thrilled that the XC90 has won this prestigious and most respected award," said Lex Kerssemakers, Presidentand CEO of Volvo Car USA, "and there is a lot more to come.
By 2019 Volvo will have a totally renewed product portfolio. By then the all-new XC90 will be the oldest car in the showroom."It is the second time the XC90 has won the North American Truck of the Year award. The first was in 2003, when the vehicle was originally introduced.
"The XC90 is a past winner of our award," said Tony Swan, a 23-year member of the North American Car and Truck of the Year Jury. "That vehicle was obviously outstanding, but the new XC90's blend of advanced technology, performance and craftsmanship stands out even more, against much more sophisticated competition."
The Volvo XC90 features all new platform, powertrain and semi-autonomous driving technologies that set a new standard for the luxury SUV segment. It is available in five or seven-passenger, front or all-wheel-drive configurations with powerful and efficient 250- or 316-horsepower turbocharged and dual-charged engines that can deliver up to an EPA rated 25 MPG. The XC90 is also be available with a 400-horsepower, 53 MPGe hybrid electric powertrain, making it the world's first seven passenger Plug-in Hybrid Electric Vehicle (PHEV).
All XC90s feature Volvo's award-winning Sensus infotainment system, which centers on an intuitive, tablet-like touch screen that puts all of the vehicle's systems and functions at the driver's fingertips. Volvo City Safety, which
includes Pedestrian Detection with Automatic Emergency Braking, automatically applies the brakes should a collision be imminent, is also standard. The available Pilot Assist semi-autonomous driving system will control vehicle speed and direction at speeds up to 30 MPH. Prices start at $43,900.
About the North American Car and Truck of the Year awards
The North American Car and Truck of the Year awards – now in their 23rd year – are unique in the United States because instead of being given by a single media outlet they are awarded by an independent group of automotive journalists from the United States andCanada who represent magazines, television, radio, newspapers and web sites.
GM, Volvo Place Bet on Made-in-China Vehicles / Article from December 2016 / Volvo Cars North America, LLC / Constructive & Exponential / U.S
The “Made in China” label has come to suggest products of inferior quality: cheap, disposable items that don’t last.
Over the years, Chinese factories and assembly lines have expanded their American exports from clothing and toys to more advanced electronics, such as personal computers and televisions. This year, Americans will be greeted by the first batch of Chinese-made cars.
While Chinese automakers have attempted to export China-branded vehicles to the United States in the past, those ideas never ventured beyond the boardroom. Businessman Malcolm Bricklin, who famously brought Subaru and Yugo cars to the United States, tried but failed to import Chinese Chery vehicles in the mid-2000s.
That’s about to change in 2016. China-owned, Sweden-based Volvo Car Corporation and Detroit-based General Motors Co. both plan to import cars made in China later this year.
Cars from China
Zhejiang Geely Holding Group Co. purchased a struggling Volvo from Ford Motor Co. in 2010 for $1.5 billion. It was the biggest acquisition of an automaker by a Chinese company.
Volvo will begin importing the S60 Inscription luxury sedan from China around summer 2016. The sedans will be produced by Volvo at its factory in Chengdu, capital of Sichuan Province, which began production of Volvos in 2013. Volume is expected to be low, around 1,500 in 2016, but will ramp up in future years.
The S60 Inscription will be marketed with a starting price of around $40,000. The variant imported from China is a long-wheelbase version of the S60 sedan, providing additional leg room for rear-seat passengers.
General Motors, the Detroit staple and America’s No. 1 automaker, plans to import the Buick Envision crossover SUV from China early this year.
GM doesn’t expect to import a large quantity at the beginning—between 30,000 and 40,000—a year, according to a Wall Street Journal report. The automaker also announced that it would import the plug-in-hybrid version of Cadillac’s new CT6 flagship from China to the United States.
Buick is GM’s most successful brand in China, and the company will use sales of Envision, which sits in the ever-popular crossover SUV segment, as a gauge for demand of Chinese-made cars.
The S60, CT6, and Envision will not be the first all-Chinese-made cars sold in North America by a major automaker. In 2012, Honda Motor Company began quietly importing Chinese-made subcompact Fit cars to Canada. Honda shifted production of the Fit from Japan to China to improve margins and avoid a strengthening yen currency.
Slice of American Pie
Chinese import volume will be small for 2016 and should barely register in the minds of consumers. And these imports are from brands already well-established in the United States.
However, the decisions by GM and Volvo mark the beginning of a strategic shift for global automakers, and they represent an experiment that will be closely watched by other auto companies. Many of them are considering a similar move.
If sales go well—and they are expected to, given recent performance of the auto market—it could eventually pave the way for Chinese brands to expand more broadly in North America.
Fifty years ago, major brands such as Toyota, Honda, and Nissan were foreign to U.S. consumers. Small economy cars from Japan became popular after the oil crisis during the 1970s. A decade or two later, South Korea entered the U.S. market with Hyundai and Kia, which were initially plagued by quality and reliability problems. Those problems and the residual reputation impact took a few decades to resolve, but today Hyundai and Kia are well-entrenched brands in America.
Major Chinese national automakers like Great Wall Motor and Geely have a distinct advantage compared to the Asian automakers of yore. The Chinese Communist Party forces foreign automakers wishing to sell in China to form strategic joint ventures with local Chinese partners, which include technology transfers.
Today, Chinese automakers sell cars to South Asia, Africa, and the Middle East. So far, developed markets such as North America and Western Europe are barely touched by the Chinese.
While GM and Volvo have both committed to keeping the majority of production in their home countries, the industry will eventually see a slow but gradual shift in production to China.
In the long term, growth in demand for vehicles will come from emerging markets. Major U.S. and European automakers have already set up production in those markets such as Asia and the Middle East to meet such demand.
Unlike the sudden shift of entire production lines from the United States to Asia seen in the apparel and small-scale manufacturing sectors, any job shift in the automotive sector is likely to be a slow and gradual process. As global economic growth slows and the demand for vehicles dampens, production will likely be cut—albeit slowly—in the higher-cost markets first, while assembly plants in lower-cost markets such as Asia keep up their production.
Shades of this economic shift could be seen in GM’s decision to import the Buick Envision. Long among the top foreign automakers in China by volume, GM has generally allocated almost all of its local production to meeting China’s voracious demand for cars.
While China’s auto sales reached a high in 2015, growth has slowed in recent quarters and is expected to slow further in 2016. GM, for instance, saw sales growth of 5.2 percent in December year-over-year, down from 12 percent growth in December 2014. Other automakers reported similar trends, with Toyota down from 12 percent in December 2014 to 8.7 percent in December 2015, and Ford down from 19 percent to 3 percent during the same periods.
And as independent analysts believe China’s economic growth will slow significantly in 2016, it appears automakers are already looking for ways to export such excess capacity to foreign markets—10,000 cars at a time.
Ontario hauler first Canadian fleet to get 2017 Volvo engines
Ontario-based hauler Purolator was the first Canadian carrier to take delivery of Volvo Trucks North America’s new 2017 engine-equipped trucks.
The integrated freight and logistics solutions provider took on 19 D13-powered Volvo VNL 300 models that feature a host of new technologies and improvements.
Of Purolator’s approximately 460 power units, more than half are Volvo models. Purolator is headquartered in Mississauga, Ontario, with more than 170 operations facilities, 124 shipping centers and 900 authorized shipping agent locations across Canada.
The 2017 D13 received a number of updates for 2017 to improve efficiency by up to 2.5 percent compared to the previous D13, Volvo says. A patented wave piston design helps maximize fuel efficiency by improving flame propagation, while a proven common-rail fuel system enables finer control of the fuel injection, allowing for faster, more accurate injection.
The D13 also features an updated EGR flow sensor with a new double-wall casing, helping reduce condensation and soot buildup in cold weather, while an improved aftertreatment dosing module has been integrated into the fuel filter housing for easier serviceability. Upgrades were also made to the two-speed coolant pump, helping to reduce parasitic losses.
Purolator’s new Volvo models are also equipped with Volvo’s latest 12-speed I-Shift automated manual transmission, a key component of Volvo’s integrated powertrain. The updated I-Shift models received improved hardware for increased durability, as well as an upgraded countershaft for faster shifting and improved performance. The Volvo I-Shift is equipped with sensors to identify factors such as load, road grade and more, enabling the transmission to ensure the truck is in the right gear for the conditions. Without a traditional clutch pedal to operate, the I-Shift helps improve driver attraction and retention by reducing fatigue during the work day.
New Volvo XC 60 Model / 2017 Establishment & Creation e.G Development Just Brought To Mondial Market for Swedish Kronor Currency Chiffre /
Volvo Cars earlier this week unveiled the second generation of its XC60 compact crossover, wearing a new look and sporting updated powertrains shared with its larger XC90 sibling.
The reveal happened at the Geneva auto show, where the media got its first look at a compact crossover sporting cues like the “Thor’s Hammer” daytime running light design that has come to define other recent Volvos, like that larger crossover and the S90 and V90 sedan and wagon models.
Volvo’s current styling language translates well to this entry-level crossover model, which all at once makes the car look smaller and more upscale. Inside, you’ll find the same digital gauge cluster and plus-sized infotainment display used in the brand’s 90-series models.
It’s a welcome update to an aging model that nonetheless had been Volvo’s best seller in many overseas markets, though the newer XC90 had stolen its thunder in Canada. We expect this new compact to overtake its big brother here, however, given the ongoing popularity of small SUVs in North America.
Also shared with its linemates are the XC60’s new powertrains. The range starts with a T6 Drive-E four-cylinder with roughly 300 hp and a T8 plug-in hybrid gas-electric combo that Volvo says lends this utility with 407 hp and a 5.3-second acceleration sprint to 100 km/h—figures that make the XC60 among the quickest in its class.
Another powertrain expected to make it to North America is a 254-hp T5, but we’d label the D4 diesel to be sold overseas as unlikely to be offered here.
As is Volvo’s way, the new XC60 is a showcase of high-tech safety features, including a trio of active collision avoidance items we’ve already told you about. They include steering that will automatically pull the car out of harm’s way if a head-on crash is imminent and will move the car back into its lane if an inattentive driver starts to wander.
Another part of the XC60 package is Volvo’s Sensus connectivity functionality, which lets you link the car to your smartphone via an app.
Volvo says the 2018 XC60 goes into production at the company’s Torslanda, Sweden factory next month, with the first Canadian-market examples rolling into showrooms near the end of 2017.
The Sweden brand’s compact SUV gets a full redesign after nine years on the market in its current form, and made its world debut at the Geneva Auto Show. The second-generation, 2018 Volvo XC60’s styling is obviously reminiscent of other recent products such as the Volvo XC90, the Volvo S90 and the Volvo V90. Under the hood, the XC60 will still feature the 240-horsepower, turbocharged 2.0-litre four-cylinder T5 Drive-E engine as well as the T6 Drive-E, a supercharged and turbocharged mill that develops 316 horsepower and 295 pound-feet of torque.
Both will be matched to an eight-speed automatic, and AWD will become standard in Canada. However, the 2018 Volvo XC60 will also be available with the T8 Twin Engine plug-in hybrid powertrain, which dishes out 400 horsepower and 472 lb.-ft. of torque. According to the manufacturer, this version of the SUV should accelerate from 0 to 100 km/h in 5.3 seconds.
In addition to the brand’s Pilot Assist semi-autonomous driving system as well as enhanced versions of City Safety and BLIS blind spot monitoring, the XC60 will also feature Oncoming Lane Mitigation, which uses steer assist to help reduce the impact of head-on collisions.
The 2018 Volvo XC60 will be on sale in Canada late in 2017. Pricing has not yet been announced, but we’re expecting a base price of about $50,000.
Tuesday / 11.September 2018 / Volvo STOCK / Market
Volvo Cars drops IPO due to trade tensions and auto stocks downturn
BEIJING/PARIS: Volvo Cars and its Chinese owner Geely have postponed plans to float shares in the Swedish carmaker, blaming trade tensions and a downturn in automotive stocks.
But while Volvo's plans for a Stockholm listing were delayed indefinitely, Britain's Aston Martin vowed to push ahead with its own initial public offering.
"We've come to the conclusion that the timing is not optimal for an IPO right now," Volvo Chief Executive Hakan Samuelsson told Reuters by telephone on Monday, confirming a decision which was first reported by the Financial Times.
Volvo and its Chinese parent had been discussing an IPO to value the carmaker at between $16 billion and $30 billion, sources have previously said. The company said a listing was still possible in the future. But Samuelsson said IPO prospects had dimmed with the business cycle, amid a broad-based decline in automotive shares that has dragged the Stoxx 600 Autos & Parts index <.SXAP> 15 percent lower so far this year.
Even before the recent sell-off, however, some observers doubted the $30 billion upper end of Volvo's target valuation.
"We had expressed our reservations concerning lofty valuation ambitions before," Evercore ISI analyst Arndt Ellinghorst said on Monday. "Trade wars are just one red flag."
Washington's escalating trade spat with Beijing and tensions with Europe have rattled automotive investors, adding volatility to market outlooks.
Volvo is less exposed than its German premium rivals to U.S.-China tariffs, however, and has said it will juggle production of its XC60 SUV to reduce their impact. It delivered 61,480 cars in China in the first half, a fraction of BMW's or Audi's sales.Geely, which paid Ford Motor Co $1.8 billion for Volvo in 2010, also has stakes in Mercedes-Benz parent Daimler , truckmaker AB Volvo and Lotus.
Geely and its boss Li Shufu had concluded that Volvo should make deeper inroads into the Chinese market before listing, a person familiar with the group's thinking told Reuters.
And Volvo, which is developing Polestar as an electrified performance brand and owns a stake in Geely stablemate Lynk&Co, has "other alternatives" to raise finance, Samuelsson said.
The IPO postponement reflects bigger concerns about "price development after a potential IPO" rather than about the initial valuation, the CEO added, citing sensitivities over the prevalence of public pension funds among Swedish investors.
"What made me nervous especially was leaving headroom for investors" amid growing market uncertainties, he said.
Swedish telecoms operator Telia drew public wrath after its shares sank from their 2000 debut. For a domestic car brand, such a setback could dent both image and sales.
Samuelsson also said that Aston Martin, as a pure luxury play, was "more like Ferrari" - whose widely envied listing came close to late boss Sergio Marchionne's 10-billion-euro target valuation. Like Volvo, Aston Martin was once owned by Ford.
"I wish them luck with their IPO," Samuelsson said. - Reuters
Volvo XC90 Excellence / Interior Space / Structure / Panel Confortable Board Setting/ Seating & Operating Driving System Very Properly / Released 2018 Luxury Car / Reflective Protocol & Industrial Use
2018 XC90 Excellence 4 Seat Luxury SUV
Two lavishly appointed individual seats in the rear, as well as the front, can be electrically adjusted and reclined for maximum comfort – and all come with massage function, ventilation and heating.
Our Idea of Luxury
The best of everything
The XC90 Excellence combines all the virtues of our acclaimed SUV with the opulence of a first-class cabin. The interior caters to your every need with four fine, leather individual seats with massage, a refrigeration compartment, an intuitive Console, plus much more. All designed to give you an atmosphere of tranquility and luxurious seclusion for you and your guests. So whether you’re at the wheel, sitting in the front seat or relaxing in the back, you can enjoy first-class accommodation.
The spirit of elegant style
From the outside, the impressive design cues reveal the unique characteristics of the XC90 Excellence – the discrete logotypes on the chrome strips, dark tinted rear windows and 21-inch 10-spoke polished alloy wheels. You’ll feel instantly at home in the lavish cabin. The individual seats are upholstered in perforated fine Nappa leather. Massage function, ventilation and heating are standard on the four individual seats. The thick carpeting, leather sun visors, handmade Linear Walnut Wood Inlays and tailored dashboard further enhance the sense of lavish luxury. Handcrafted Orrefors® crystal glasses are within easy reach - and a refrigerated compartment between the rear seats keeps your refreshments cool. All of these features provide a level of comfort and tranquility you won’t find in any other luxury SUV.
The XC90 Excellence is built on Volvo’s modular Scalable Product Architecture (SPA) and comes with the award-winning T8 Twin Engine plug-in hybrid powertrain as standard, offering three distinct driving modes in one car – Pure, Hybrid and Power. This means the XC90 Excellence can provide up to 410 hp combined with impressively low emissions.
“The XC90 Excellence offers a sublime and luxurious experience. It is our top-of-the-line XC90 offer and we see a lot of interest from our more affluent customers,” said Björn Annwall. “The additional sound insulation, enhanced Bowers & Wilkins sound system and convenience of rear seat controls takes the XC90 Excellence to a new level of luxurious calm and comfort.”
Efficiency at the pump
MPG Highway 29
Our Drive-E powertrains deliver best-in-class fuel consumption with fuel-efficient gear ratios and optimized aerodynamics. The result is a smooth, powerful ride – with fewer stops at the pump.
Room for enjoyment
Cargo Space 85.7 (cu. ft.)
Just fold down interior seating and the XC90 Excellence is ready to accommodate any getaway or gathering. It has enough room for the kids and a weekend’s worth of luggage. When it comes to extra space, the XC90 stays ahead of its competitors with greater cargo capacity than an Audi Q7, BMW X5 and Mercedes-Benz GLE350.
The XC90 Excellence exceeds all expectations with an even higher standard of luxury.
Volvo XC40 Recharge / Released 2019 For Several Purpose / Market Introducing Model for A Great Sale Of The Swedish Car Manufacturing In Year 2020
In the year that has passed, Volvo says it had strong customer demand, and every car on the production roster this year already has a customer waiting – of course, we are not told how many that is.
Today is a momentous occasion for Volvo Cars and for all employees here in Ghent,” said in a statement Javier Varela, head of global industrial operations and quality. “As we continue to electrify our line-up, the Ghent plant is a real trailblazer for our global manufacturing network.” So, what is the XC40 Recharge? If you were expecting an EV on a dedicated platform, that’s not the case. The SUV is in fact built on the same hardware as the regular XC40, but with its ICE entrails replaced by an electric powertrain.
In this case we’re talking about a 78 kWh battery suitable for a range of 400 km (248 miles) and capable of recharging to 80 percent capacity from a fast-charging system in 40 minutes. Forward motion is ensured by means of two electric motors generating 408 hp and 660 Nm of torque. What is perhaps more interesting about it is that the car’s infotainment system runs the latest Android software, making the EV the first Volvo to deploy it. Also, this is the first Volvo car to use a new suite of Advanced Driver Assistance Systems (ADAS), developed by the carmaker’s partner Zenuity.
So, as of now, you’d better get used to the Recharge name when talking about Volvo. The moniker will be used to describe not only Volvo’s electric cars, but also its plug-in hybrids.
Volvo Cars introduced Wednesday the XC40 Recharge, its first electric car under a new EV-focused brand that kicks off a company-wide shift toward electrification.
“It’s a car of firsts and it’s a car of the future,” CTO Henrik Green said.
The Volvo XC40 Recharge is the first electric vehicle in the automaker’s portfolio. It’s also the first Volvo to have an infotainment system powered by Google’s Android operating system as well as have the ability to make over-the-air software updates.
This is also the first vehicle under Volvo’s new Recharge brand. Recharge, which was announced this week, will be the overarching name for all chargeable Volvos with a fully electric and plug-in hybrid powertrain, according to the company.
The all-electric vehicle is based off Volvo’s popular XC40 small SUV. However, this is not a retrofit of a gas-powered vehicle.
The XC40 Recharge is equipped with an all-wheel drive powertrain and a 78 kilowatt-hour battery that can travel more than 400 kilometers (248 miles) on a single charge, in accordance with WLTP. The WLTP, or Worldwide Harmonised Light Vehicle Test Procedure, is the European standard to measure energy consumption and emissions, and tends to be more generous than the U.S. EPA estimates. The EPA estimates are not yet available, but it’s likely the XC40 Recharge will hit around the 200-mile range.
That would put the range of the Volvo XC40 Recharge below the Tesla Model 3, Chevy Bolt EV, Kia Niro and Hyundai Kona.
However, Volvo did make a vehicle with impressive horsepower and fast charging capability, which could attract buyers. The vehicle’s electric motor produces the equivalent of 408 horsepower and 442 pound-feet of torque that allows the vehicle to go from zero to 60 mph in 4.8 seconds. The battery charges to 80% of its capacity in 40 minutes on a fast-charger system. The infotainment system in the all-electric Volvo XC40 will be powered by an automotive version of Android OS, and, as a result, bring into the car embedded Google services such as Google Assistant, Google Maps and the Google Play Store.
This Android-powered infotainment system is the product of a years-long partnership between the automaker and Google. In 2017, Volvo announced plans to incorporate a version of its Android operating system into its car infotainment systems. A year later, the company said it would embed voice-controlled Google Assistant, Google Play Store, Google Maps and other Google services into its next-generation Sensus infotainment system.
The Android-powered infotainment system is fully integrated with Volvo On Call, the company’s digital connected services platform. Plug-in hybrid drivers using the Volvo On Call will be able to track how much time they spend driving on electric power.
The infotainment system in the Polestar 2, the new vehicle from Volvo’s standalone performance brand, also is powered by Android OS.
Android Automotive OS shouldn’t be confused with Android Auto, which is a secondary interface that lies on top of an operating system. Android Automotive OS is modeled after its open-source mobile operating system that runs on Linux. But instead of running smartphones and tablets, Google modified it so it could be used in cars. Volvo isn’t the only automaker to partner with Google to bring Android OS into its vehicles. GM began shipping vehicles with Google Android Automotive OS in 2017, starting with the Cadillac CTS and expanding to other brands. GM said in September that Google will provide in-vehicle voice, navigation and other apps in its Buick, Cadillac, Chevrolet and GMC vehicles starting in 2021.
The electric XC40 is also the first Volvo that will receive software and operating system updates over the air. Over-the-air, or wireless, software updates were popularized by Tesla, which has used the capability to improve its vehicles over time. Tesla has used the OTAs to fix software bugs, roll out new features in its infotainment system and improve performance. Volvo intends to use OTAs for the operating system and other software inside the vehicle, Green said. Other automakers, with the exception of Tesla, have slowly inched toward OTAs, but have minimized its use, and limited it to the infotainment system.
“So now the XC40 will stay as fresh as your phone or tablet, and no longer will a car’s best day be the day it leaves the factory,” Green said.
New Volvo V60 Model / 2019
Today, Volvo revealed the all-new Volvo V60 – a five-door, mid-size premium wagon, that perfectly underlines the Swedish company’s position as a maker of premium cars that combine good looks with everyday practicality in one package. The new model was launched in its natural habitat – the driveway of a family home in Stockholm – highlighting Volvo Cars’ pedigree in family cars and pinpointing how the V60’s versatile design caters to the diverse needs and realities of modern family life.
With the world slowly turning to crossovers for the daily driver usability, wagons are still the best choice for family haulers. And overall, there are just a few car makers that can match Volvo Cars’ history and credibility in making well-designed, practical and versatile wagons.
“The family estate driver is an important customer for our business and has been for generations,” said Håkan Samuelsson, president and CEO of Volvo Cars. “The new V60 honors that tradition, but also takes it much further.”
The new V60 shares Volvo Cars’ Scalable Product Architecture (SPA) platform with the award-winning new XC60 and four top-of-the-line 90 Series cars, which have been the collective force behind the company’s record-breaking global sales performance in recent years.
The SPA-based V60 introduces a luxurious interior, increased levels of space, advanced connectivity, plus Volvo Cars’ latest driver support systems and other safety technology. Additionally, the well-known safety aspect of Volvo cars is prevalent in every facet of the vehicle, making it a perfect selection for families and owners who take their personal safety to the highest regard overall. The new V60 , in short, provides a comprehensive list of safety features that come as standard, including advanced driver support systems known from the 90 Series and XC60, making the new V60 one of the safest cars on the road.
The City Safety with Autobrake technology uses automatic braking and detection systems to assist the driver in avoiding potential collisions, and is the only system on the market to recognize pedestrians, cyclists and large animals. In a world first, City Safety now also engages autobraking to mitigate oncoming collisions.
The Pilot Assist system – which supports the driver with steering, acceleration and braking on well-marked roads up to 80 MPH – has been upgraded with improved cornering performance. The V60 also includes Run-off Road Mitigation, Oncoming Lane Mitigation and other steering assistance systems. The optional Cross Traffic Alert with autobrake further improves safety for people inside and outside the car.
In the United States, the V60 will be available with two engine options: the T5 FWD, providing 250 horsepower and the T6 AWD powertrain, providing 316 horsepower. The latter will allow the Volvo V60 to sprint from 0-62mph 80-100km/h) in 5.8 seconds and reach an electronically limited top speed of 155mph (250km/h).Reflecting Volvo Cars’ industry-first announcement to electrify all new cars from 2019, the V60 comes with two plug-in hybrid powertrain options: the new T6 Twin Engine AWD petrol plug-in hybrid that generates a combined 340hp or the T8 Twin Engine AWD petrol plug-in hybrid that delivers 390hp. Volvo’s Sensus infotainment system is fully compatible with Apple CarPlay, Android Auto and 4G, and keeps drivers connected at all times. The system is controlled via an intuitive tablet-style touch screen that combines car functions, navigation, connected services and entertainment apps.
Pricing for the all-new Volvo V60 is yet to be revealed, but we’ll keep you updated. However. in a first for the segment, customers can access the new V60 via Volvo Cars’ new premium subscription service Care by Volvo, which offers car access via a monthly flat-fee subscription rather than ownership. Care by Volvo makes having a car as transparent and easy as having a cell phone. An interesting option for people that don’t wish to own a vehicle, that’s for sure.
2020 / Volvo Polestar 2
Established automakers are done treating Tesla like a brash arriviste trying to crash a country club. The newcomer's success has turned the legacy brands' irritation into imitation, with the Jaguar I-Pace and the Audi e-tron leading the—ahem—charge. That pair will be followed by an onslaught of EVs from around the industry. Polestar is Volvo's take on a Tesla-style brand, one that will offer a range of electrified cars via direct sales rather than through dealerships. Following the plug-in-hybrid Polestar 1, the 2 is the brand's second offering but its first EV.
An amalgam of SUV and coupe, the Polestar 2 is a hatchback with a fast roofline that gives it unmistakable three-box proportions, but its raised ride height and plastic lower-body cladding suggest today's un-sedans. "It's not a high-standing SUV," says Thomas Ingenlath, Polestar's CEO. "It is lower to the ground, but it has elements of that because, I think, it is really pushing for a modern interpretation of what used to be the sedan category." The location of the battery pack under the floor drives the increase in seat height compared with a typical sedan's, but the 2 is still a very different shape than the slightly smaller Volvo XC40 crossover that sits on the same core architecture.
Like the XC40, the 2 rides on Volvo's mid-size Compact Modular Architecture (CMA), though this electrified version of the platform accommodates a large lithium-ion battery pack beneath the floor. The unit has 27 modules and can store up to 78.0 kilowatt-hours. Polestar hasn't released the battery's final weight yet, or the weight of the car as a whole, but says the pack helps improve chassis rigidity and reduces road noise by four decibels compared with other CMA cars. It is assumed that the electrical system will support fast charging, but there's no word yet on how long a full charge will take.
Power comes from two electric motors, each turning an axle. The motors are identical and each produces 201 horsepower and 243 pound-feet of torque, for a total system output of 402 horsepower and 487 pound-feet. Polestar says the 2 will be capable of a sub-five-second zero-to-60-mph time and is targeting a 275-mile range under the EPA's testing methodology. While respectable, those numbers fall short of the Tesla Model 3 Performance; that car hits 60 mph in 3.5 seconds and has a 310-mile EPA range. Polestar plans to offer an optional Performance package on the 2, which will bring Öhlins dampers, 20-inch forged wheels, and Brembo brakes with gold-colored calipers and matching seatbelts.
Hoping to attract a young, Wi-Fi–seeking demographic, Polestar is trying a new approach to infotainment. The 2 will run Google's Android operating system natively, without access brokered through the Android Auto app. Ingenlath says this will improve both integration and functionality, admitting that tech giants are just better at this kind of thing than auto companies. "Let's stop the bullshit. We acknowledge that we will always run behind, so we should simply use what is the best system and put it into our car," he says. The Android system will include Google Maps navigation and respond to voice commands.
What's more, Polestar will offer a feature whereby an owner's smartphone can function as the key, unlocking and starting the vehicle. The 2 will sense an approved user's approach and adjust seats, mirrors, and climate settings to the driver's preference.
Don't expect sumptuous hides to join the fancy tech in the 2. Polestar is following the growing trend of "vegan" interiors, those without leather or any other material that once had a mother. The 2 shares some conventional switchgear with Volvo models, but most functions will be handled by the 11.0-inch portrait-oriented touchscreen. The 2's steering wheel and shifter carry the brand's as yet unfamiliar stylized star, which also adorns the outside of the car, so buyers should expect some perplexed stares from onlookers. Ingenlath says the interior is meant to be "much more edgy and much more exclusive" than a Volvo's.
The Polestar 2 will be produced in China—home of Geely, which owns both Polestar and Volvo—and will go on sale in the United States in the summer of 2020. The launch edition should cost around $63,000. The $7500 federal EV tax credit will drop the price to $55,500 before any additional state credit is applied. Polestar will also offer what it describes as low-commitment subscription options, with Volvo shops carrying out service functions. But its dealership network will be unconventional. Similarly to Tesla, the idea is to use "brand experience" centers and sell vehicles directly to customers, with the final transaction completed online and delivery taken through the local franchised dealer.
New Volvo XC 60 / 2020 / Volvo Engineering & Highly Precise Technology
2020 Volvo XC60 SUV / ALL-NEW Volvo XC60 2020 (Volvo SUV 2019)
The new car replaces Volvo’s highly-successful original XC60, which in the nine years since its launch became the bestselling premium mid-sized SUV in Europe with nearly a million units sold globally. The XC60 today represents around 30 per cent of Volvo’s total global sales.
“This is a proud day for everyone at the plant,” said Magnus Nilsson, vice president of the Torslanda plant. “We have worked hard in recent weeks and months to prepare Torslanda for this latest new Volvo model, and now we are ready to start delivering new XC60s to customers.”
The XC60 is the fourth model based on Volvo’s in-house developed SPA vehicle architecture, following the introduction of the top-of-the-line 90 series in recent years. The SPA-related investments in Sweden have had positive effects on employment at the company, as thousands of new jobs have been added in production, research & development and other areas.
New comfort and safety technology
The new XC60, one of the safest cars ever made, is fully-loaded with new technology. Steer Assist has been added to the ground-breaking City Safety system. A new safety system called Oncoming Lane Mitigation uses steer assist to help mitigate head-on collisions, while Volvo’s Blind Spot Indication System (BLIS) now uses Steer Assist functionality to reduce the risk of lane-changing collisions.
Pilot Assist, Volvo’s advanced semi-autonomous driver assistance system, which takes care of steering, acceleration and braking on well-marked roads up to 130 km/h, is available in the new XC60 as an option.
The new XC60 offers Volvo’s award-winning T8 Twin Engine petrol plug-in hybrid at the top of the powertrain range, delivering 407 hp and acceleration from 0-100 Km in just 5.3 seconds.
But it is not just under the hood that the new XC60 delivers healthy performance. The new CleanZone four-zone climate system removes harmful pollutants and particles from outside the cabin to deliver Scandinavian-fresh air on the inside.
Volvo Cars’ driver infotainment and connected services offer, Sensus, and the Volvo On Call app both receive a graphical update with improved usability. As in the 90 Series cars, smartphone integration with CarPlay and Android Auto is also available.
With the new XC60 now on the market and gradually becoming available for order on markets across the globe, Volvo is set for another record year of sales in 2019.
Whether you're looking for a vehicle to bring the whole family along or to commute into New York City, the new Volvo XC60 is everything you need it to be and more. Equipped with the latest technology and performance‑based features, you'll not want to miss all that the new 2020 Volvo XC60 has to offer on the roads near Morristown, NJ.
Sporting a refined exterior look accentuated by its radiant LED headlights, bold styling details, and sport‑inspired performance wheels, the new XC60 revels in its aggressive yet elegant design. A product of authentic Scandinavian craftmanship, the Volvo XC60 makes its presence known on the streets in Monclair with its alluring flair. Engineered to make a statement wherever it goes, this luxury mid-size SUV is captivating no matter which angle you take it in.
Decorated with an array of unique styling details and aesthetic inlays, the inside of the new Volvo XC60 better resembles a cockpit than a cabin. The new XC60 seamlessly connects you to the world around you, standard equipped with a Digital Driver Display screen that gives you all the information that you need to make the most of every trip. Featuring a Panoramic Moonroof that allows floods of natural light to enter into the cabin as you drive around New Jersey, the XC60 makes it easy for drivers to let the light in during dark times.
The Volvo XC60 T8 Twin Engine has a plug‑in hybrid powertrain that provides responsive performance. The combination of a turbocharged and supercharged engine driving the front wheels and an electric motor driving the rear wheels gives performance that's a match for many sports cars. The result is strong, smooth acceleration from standstill. And, if necessary, on‑demand all-wheel drive ensures power is transferred as effectively as possible to the road.
The XC60 has a choice of drive modes that allow you to adapt the driving experience to your needs. You can switch between three default settings for the engine, automatic gearbox, steering, brakes, stability control system, and engine stop/start function. For more advanced control, the T8 offers five drive modes to choose from. And you can create your own combination with Individual mode. You simply toggle through the drive settings — which are displayed on the 9" Sensus Touchscreen — using the roller control between the front seats.
When it comes to safety, the new Volvo XC60 gives you peace of mind that no matter where the roads lead, you and your passengers can be confident that your protection is a top priority. Standard equipped with Volvo's City Safety suite, the new XC60 helps you avoid potential danger when the going gets tough near East Hanover, NJ. The Volvo XC60 is designed to keep you on track through all types of adverse weather conditions and features a variety of advanced safety systems. / Resource Volvo
New Financial Officer / Volvo Cars / Appointed 2021
Volvo Cars has appointed Björn Annwall as chief financial officer, effective 19 April 2021. He is the successor to Carla De Geyseleer, who has elected to step down from her position for personal reasons.
Björn Annwall has been a member of the executive management team at Volvo Cars since joining the company in 2015. He has been head of the EMEA region since 2019, during which Volvo Cars has markedly increased its market share in the region thanks to strong plug-in hybrid and pure electric sales. These cars now constitute 40 per cent of sales in the region and the company has also started a move to online sales, together with its retail partners.
Prior to leading EMEA, Björn Annwall led Volvo Cars’ commercial operations division and corporate strategy, following his initial role leading marketing, sales and service.
He joined Volvo Cars from McKinsey & Co, the global management consultancy firm, where he worked closely with Volvo Cars for five years and implemented a global transformation programme following the acquisition of the company in 2010 by Zhejiang Geely Holding, China’s leading privately-owned automotive group.
“I am pleased to announce Björn as our new chief financial officer,” said Håkan Samuelsson, chief executive. “He is a modern leader with broad experience of Volvo Cars and deep strategic understanding of our rapid transformation. This puts him in an excellent position to support the continued growth and financial performance of our business. At the same time, I would like to thank Carla De Geyseleer for her contribution to Volvo Cars’ continued success and I wish her all the best in her future endeavours.”
Commenting on his appointment, Björn Annwall said: “I am deeply honoured to have been appointed as the CFO of Volvo Cars and excited about the task ahead. There is a great momentum within the company and we are in the middle of an industry-wide transformation where we have the ambition to be the fastest transformer. I keenly look forward to working with colleagues and partners in driving sustainable and profitable growth for the company.”
Carla De Geyseleer has elected to step down from the role of chief financial officer for personal reasons. Through a tumultuous 2020, she successfully steered the company’s finances, contributing to a strong recovery from the Covid-19 pandemic and a record performance in the second half year.
Carla De Geyseleer also made great strides in aligning the company’s financial strategy with its overall sustainability ambitions.
In September of last year, Volvo Cars established a Green Finance Framework, which allows it to fund its ambitious climate plan and electrification strategy by issuing green bonds or obtaining green loans. Later that month it successfully placed its first green bond, raising EUR 500 mln.
Arek Nowinski, currently managing director of Volvo Car Poland and head of products for EMEA, will take over as head of EMEA and become a senior vice president, reporting to Lex Kerssemakers, head of global commercial operations.
As a Volvo Cars veteran with 17 years of experience working with the company, Arek Nowinski brings extensive knowledge both from leading a national sales company and working on core strategic projects in the headquarters.
Volvo Car Group in 2020
For the 2020 financial year, Volvo Car Group recorded an operating profit of 8.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 262.8 BSEK (274.1 BSEK). For the full year of 2020, global sales reached 661,713 cars (705,452), a decline of 6.2 per cent compared to 2019.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 661,713 cars in 2020 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.
As of December 2020, Volvo Cars employed approximately 40,000 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
Best First Quarter In Volvo Historically Books / 2021
Volvo Cars reported the best first quarter in its history as the company’s global sales increased by 40.8 per cent compared with the same period last year.
Total sales during the period amounted to 185,698 cars, up from 131,889 cars in the same period last year. In Europe and the US, the company managed to improve sales compared to the first quarter last year, while managing to cope with the ongoing effects of the pandemic. China has by now recovered from the impact of the pandemic, which was peaked in Q1 2020.
For the month of March, Volvo Cars sold 75,315 cars globally, up 62.3 per cent compared with the same month last year.
Volvo Cars’ Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, remained strong and accounted for 26.0 per cent of all Volvo cars sold globally in March. In Europe, the share of Recharge cars of overall sales was 39.0 per cent.
For the first quarter of 2021, Volvo Cars more than tripled its numbers of subscriptions sold online through its Care by Volvo offer, compared to the same period last year. It also saw a quarter-on-quarter growth of 22 per cent.
In China, sales increased by 117.7 per cent in the first three months of the year, compared with the first quarter the year before. With a continued strong demand for the locally produced S90, the company recovered and improved sales that were lost due to Covid-19 restrictions. Total first quarter sales reached 45,242 cars, increasing from 20,780 in the same period 2020.
In the January-March period, US sales for the company reached 27,239 cars. That is an increase of 39.8 per cent compared with the same period last year, which was affected by the pandemic as many states implemented stay-at-home orders.
In the first three months of 2021, the company’s European sales grew to 87,457 cars, up 24.0 per cent compared to the same period last year. The increase was mainly driven by markets that managed to cope with pandemic-related shutdowns, as well as a strong sales increase in Sweden and the UK.
Volvo Cars / Gothenburg Sweden / EU Continent / New Membership of Board of Directors ( 2021)
Volvo Cars has appointed Lila Tretikov and Diarmuid O’Connell as members of its Board of Directors, effective immediately, further strengthening the board’s experience and competence.
Ms. Tretikov is currently corporate vice president and deputy chief technology officer at Microsoft and is a leading expert in a variety of fields including artificial intelligence and technology-enabled business transformation.
As a software engineer and programmer turned senior executive, Ms. Tretikov brings extensive innovation and technology experience to the Board, together valuable perspectives on appliying a cross-disciplinary approach to creative technology solutions.
Mr. O’Connell was most recently chief strategy officer for Fair Financial, the automotive services and finance company. Before that, he spent over a decade with Tesla Motors as its vice president for corporate and business development, overseeing multiple strategic projects and functions that facilitated the company’s expansion.
As a result, Mr. O’Connell has extensive experience within the areas of electrification and premium car brands, and has a deep knowledge of developing strategic partnerships, retail models, direct-to-consumer business, regulatory and homologation issues, connectivity and autonomous drive.
Separately, Winnie Kin Wah Fok has retired from her position on the Board as she decided not to stand for re-election to the Board.
Following these announcements, the Board of Volvo Cars now consists of the following members:
Li Shufu (Chairman), Lone Fønss Schrøder (Vice-Chairman), Håkan Samuelsson (President & CEO), Daniel Li, Winfried Vahland, Betsy Atkins, Tom Johnstone, Michael Jackson, Jim Zhang, Jonas Samuelson, Lila Tretikov, Diarmuid O’Connell. Union representatives: Glenn Bergström, Jörgen Olsson, Marko Peltonen.