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Volvo credits China, Europe for first-half profitability

If everything goes to plan, Volvo might be showing the first signs of a turnaround after several years coping with old products and a staid image. The Swedish brand is imminently launching its next-gen XC90 SUV on a completely revised, modular platform and using a cutting-edge family of engines, and it has even more products to take advantage of the fresh components on the drawing board. "We are excited about the launch of the all-new XC90, which marks the beginning of the re-launch of the Volvo brand," said CEO Håkan Samuelsson in the company's announcement. In the meantime, the business is moving back to profitability and is even forecasting growth through the rest of 2014.
In Volvo's recently released financial and sales results for the first six months of the year, volume was up 9.5 percent to 299,013 cars. On top of that, operating income reached 1.21 billion Swedish krona ($175 million) after posting a loss in the same period in 2013. Net income was also improved to 535 million Swedish krona ($77.4 million), which was also a reversal from a negative last year.
With these great results, Volvo is now forecasting 10 percent sales growth worldwide by the end of the year, and the key to it is a booming market in some regions. China, home to parent company Geely, was up 34.4 percent first half of the year. It's now Volvo's biggest market in the world and helped by exclusive models like the S60L (pictured above) and S80L. "We are growing our presence in China and we expect to sell at least 80,000 cars there this year," said Samuelsson in the company's forecast.

US could get Chinese Volvos soon, possibly Geely joint-venture subcompact?

After a little more than three years since Volvo was acquired by China's Geely, it was only a matter of time before products from this marriage started to show up in the US. Although nothing seems to be written in stone, Automotive News is reporting that the US could be getting Chinese-made Volvos sooner rather than later.
In speaking with AN, Volvo CEO Hakan Samuelsson said that Chinese Volvos could be exported to the US "fairly quickly," and while there was no word on any specific models being considered, the article points out that the S60 (shown above) is already being produced locally in China at a Volvo plant. Another possibility is the next-gen V40, which has reportedly received plenty of support from US Volvo dealers. Regardless of which model it is, Samuelsson doesn't seem too worried about a "Made in China" car receiving a negative reaction by US consumers, pointing to all the other Chinese products sold here.
On a global scale, AN is also reporting that Geely is working on a new subcompact platform co-developed with Volvo to compete against cars like the Honda Fit, Ford Fiesta and VW Polo. There is no word as to whether or not this Geely-branded model would be coming to the US, but just last year, we heard that the Chinese automaker is looking to break into the US market by 2016.

Junkyard Gem: 1984 Volvo 242 DL

Volvo had tremendous success with the iconic 200 Series cars, selling them in North America from the 1975 model year all the way through 1993 (and if you count the Volvo 140, which was the same car from the A pillars rearward, the 240's history goes back to the middle 1960s). Nearly everybody who bought 240s on our continent did so in order to be safe and/or practical, which meant that the two-door version never sold anywhere near as well as its four-door and wagon brethren. Here's one of those rare 240 coupes (technically speaking, a two-door sedan), found in a San Jose car graveyard last winter. If you're going to be a stickler about the designation of this car as a two-door sedan and not as a coupe, you'll also want to call it by the name Volvo used when it was in the showroom: the 1984 Volvo DL. However, everybody in the Volvo world now prefers the original naming system that Volvo used for the 200s back home in Sweden, where you had 2 followed by a numeral indicating the number of engine cylinders and a numeral indicating the number of doors, with the trim-level code after that. So, what we have for today's Junkyard Gem is a Volvo 242 DL, i.e., the cheapest new 240 Americans could buy in 1984. You could get a turbocharged engine from the factory in the 1984 242, but this car has the ordinary naturally-aspirated 2.3-liter straight-four, rated at 111 horsepower. It also has the four-speed manual transmission with overdrive controlled by the button in the middle of the shift knob. Nearly 230,000 miles on the clock, which is decent for any 1980s car but not spectacular by Volvo 240 standards. Many Volvo enthusiasts prefer the smooth lines of the coupe to the stodgier sedans and wagons, and this one shows signs of ownership by someone who wasn't just about listening to NPR while driving safely to the natural-foods store. Sure enough, it has aftermarket springs and a non-factory rear sway bar. I wish I'd found these parts back in 2007, when I was helping to build a V8-swapped Volvo 244 road racer. The presence of the keys in a junkyard car, however, usually indicates that it was voluntarily let go by its final owner. Perhaps it was a dealership trade-in that proved to be impossible to sell due to a combination of three pedals, high miles, and lack of truck-shaped body. The interior looks like it might have been tolerable before it reached this place.