2019 Volvo Xc60 T6 Momentum on 2040-cars

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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

Roger Moore dies at 89; a look back at his automotive moments

According to Reuters, actor Roger Moore passed away this morning. The news source reports he died of cancer at age 89. Moore has a place in automotive enthusiasts' hearts thanks to his connection to some of the most famous onscreen cars in history. He portrayed James Bond in multiple films, perhaps most famously in The Spy Who Loved Me, in which his Bond piloted an amphibious Lotus Esprit. That car inspired many, even Elon Musk, who purchased the submarine version of the car. He also included it as an Easter egg in the Tesla Model S. That wasn't the only memorable Moore automotive moment. In two other Bond films, his character was involved in some remarkable stunts. In The Man with the Golden Gun, Moore's Bond drives an AMC Hornet over a ramp and does a barrel roll. Although cheesy, the stunt did happen. According to The Telegraph, a Cornell University aeronautical computer ran a simulation of the stunt and calculated the variables (such as the proper speed: 40 mph). Then British stuntman Loren "Bumps" Willard executed the roll on the first take, earning a GBP30,000 bonus. Which is a lot of money for a scene that uses a slide whistle as a sound effect. You can see the jump below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Moore is also associated with a great car thanks to his other famous role on the TV show The Saint. In that series, he drove the beautiful and unusual Volvo P1800 coupe. The car was enough of an icon that Jay Leno featured it on his Jay Leno's Garage series. Related Video:

Comparison test: 2019 Acura RDX vs. compact luxury SUV competitors

Truth be told, if we were to compare the all-new 2019 Acura RDX with those compact luxury crossover SUVs it would most likely be cross-shopped against, you'd be looking at a different list. Even Acura admits that Lexus and Infiniti are the most likely bogies, but with the 2019 RDX, Honda's luxury brand is attempting to attract those customers who think as much with their hearts as with their heads. And for the most part, those folks have been buying from German brands: the Audi Q5, BMW X3 and Mercedes-Benz GLC-Class. So, to show how the new RDX compares to them, Acura actually provided examples of each during the recent press drive along with a Volvo XC60. All were determined to have greater emotional appeal than the last RDX, and we would certainly agree. For, as much as the previous-generation RDX made sense on paper, it was really hard to get excited about it. And when you're paying extra for a luxury vehicle, shouldn't you get a little excited? Well, as luck would have it, Consumer Editor Jeremy Korzeniewski and I were on hand in Whistler, British Columbia, for the press launch. We didn't have an abundance of time in each RDX competitor, but in conjunction with our usual comparison chart, our impressions should provide a good first taste of how the new RDX compares. Performance and fuel economy Contributing Editor James Riswick: On paper at least, the RDX is gutsier than its comparably powered European rivals. It also weighs the same or less, which logically should mean it'll be the quickest in a straight line. During my brief drives, though, I'm not sure it really stood taller than the three Germans. It at least matches them for smoothness, which is something that can't be said about the Volvo. Fuel economy is lower than them all when you consider all but the Mercedes come standard with all-wheel drive. It's also worth noting that all the competitors are available with engine upgrades, and unless Acura's forthcoming resurrection of Type S models includes the RDX, it should stay that way. Consumer Editor Jeremy Korzeniewski: Line 'em all up in a drag race, and I have a feeling the Acura would squirt away to victory. A good bit of that, though, would be due to its 10-speed automatic transmission, which offers a huge spread of ratios and fires off extremely quick shifts. In the real world, I'd guess fuel economy will be similar across the board, so I'm willing to call that category a draw.