Volvo Cars today reinforced its product offensive in the US by unveiling two new sedans at the North American International Auto Show in Detroit, moving it a significant step closer towards its medium term goal of selling 100,000 cars a year in the US.
The Volvo S60 Inscription and the Volvo S60 Cross Country will boost Volvo’s presence in the important premium sedan market. Volvo is also introducing the all new XC90 R Design in Detroit, the latest version of its seven seat SUV that was launched in the US in Los Angeles.
“These two new products, added to the all-new XC90 unveiled in LA, are a further statement of our commitment to turn around our performance in the US. Overall, we will launch seven new products in the US by 2018,” said Håkan Samuelsson, President and Chief Executive Officer of Volvo Cars.
The introduction of these new models forms the latest chapter in Volvo’s ongoing transformation, which involves the creation of a global industrial footprint, the complete renewal of Volvo’s product range over the next five years, the introduction of a new modular chassis technology, world-first safety technologies, a new design language, a new powertrain architecture and a range of class-leading connectivity services.
The pace and depth of this transformation was underlined earlier this month after the company reported record full-year sales for 2014. Sales increased 8.9 per cent in 2014 to a new record of 465,866 cars sold. December 2014 also marked the 18th month of consecutive sales increases. Volvo Cars forecasts sales will continue to expand in all global markets in 2015.
The S60 Inscription
The new Volvo S60 Inscription will offer class-leading rear space, something consistently requested by US customers.
It will be made at Volvo’s plant in Chengdu, China, and is on show for the first time at this year’s North American International Auto Show in Detroit.
Chengdu is Volvo’s main production facility in China and has been built in accordance with globally monitored quality standards such as the Volvo Cars Manufacturing System, which ensures Volvo Cars’ global quality engineering, quality audit and quality assurance standards.
Levels of installed technology and equipment are the same as the company’s European facilities, as are the working environment, safety and environmental performance standards. Exports to the US will start in the second quarter of this year.
All-new S60 Cross Country
Volvo Cars is stepping up to meet the demands of its core customers with the unveiling of the exciting S60 Cross Country at the Detroit Auto Show.
Back in 1997, when Volvo Cars was the first premium brand to introduce an all-road capable variant of its successful wagons, no one could predict the future success of the crossover concept. Today, the crossover is ubiquitous and has helped to define a whole new category of lifestyle vehicle.
Volvo Cars is once again taking a bold step forward – this time in the sedan segment – with the unveiling of the S60 Cross Country – the first premium sedan with the same level of capability and rugged design cues of the renowned Cross Country wagons.
“We want to further explore the market with our Cross Country brand. We did this back in 1997 with the V70 Cross Country and it led to the birth of a whole new segment. We have included all the capability-driven benefits of the Cross Country brand in this new model, while offering a completely unique expression of adventure and all-road readiness in a distinctly sporty and stylish package,” said Lex Kerssemakers, Senior Vice President Product Strategy and Vehicle Line Management at Volvo Cars.
All-new XC90 R-Design
The XC90 is a visually striking, premium quality seven seat SUV with world leading safety features, new powertrain technologies, an unrivalled combination of power and fuel efficiency and a superlative interior finish.
The new XC90 marks the beginning of a new chapter in Volvo’s history, capturing its future design direction, incorporating its own range of new technologies and utilising its new Scalable Product Architecture (SPA) technology. Customers obviously like what they see. Launched in August last year and just ahead of the start of production, Volvo has already received orders for over 6,000 new XC90s.
The R-Design version of the all-new XC90 is aimed at buyers looking for a head-turner that radiates a truly sporty and dynamic look.
“R-Design is created for people with a passion for things that add spice to life,” said Alain Visser, Senior Vice President, Marketing, Sales and Customer Service of Volvo Cars. “It appeals to customers that love active driving and a personal, expressive design.”
The visual promise of a dynamic ride is confirmed by the driver-centric interior featuring R-Design sports seats in Nubuck textile and perforated leather. A choice of Drive-E powertrains offering up to 400 hp and the completely new XC90 chassis ensure an agile driving experience.
The S60 Inscription, S60 Cross Country and XC90 R-Design will be available for delivery from the second quarter.
Volvo Car Group in 2013/14
For the 2013 financial year, Volvo Car Group recorded an operating profit of 1,919 MSEK (66 MSEK in 2012). Revenue over the period amounted to 122,245 MSEK (124,547 MSEK), while net income amounted to 960 MSEK (-542 MSEK). Global retail sales for the year amounted to 427,840 (421,951) cars, an increase of 1.4 per cent compared to 2012. The operating profit was the result of cost control and strong sales and was further tangible proof of Volvo Car Group’s progress in implementing its transformation plan. For the full year 2014, global sales reached 465,866 cars, an increase of 8.9 per cent versus 2013. Full year financials for 2014 will be announced during the first quarter of 2015.
About Volvo Car Group
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 465,866 in 2014 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 2013, Volvo Cars had over 23,000 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 Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).