2.4l Auto W/ Cd Power Windows Power Door Locks Remote Keyless Entry Am/fm Stereo on 2040-cars

Auto blog

Volvo Cars hopes to raise $2.9 billion in its stock IPO

STOCKHOLM/LONDON — Geely-owned Volvo Cars plans to raise 25 billion Swedish crowns ($2.9 billion) through an initial public offering (IPO), the Swedish carmaker said on Monday of what would be one of Europe's biggest listings this year. Volvo said it will list on the Nasdaq Stockholm stock exchange this year and that Chinese owner Geely Holding would remain its biggest shareholder. In 2018, Volvo Cars and Geely, which also owns an 8.2% stake in Sweden's Volvo Trucks, postponed plans to float shares in the Swedish carmaker, citing trade tensions and a downturn in automotive stocks. "Volvo Cars believes that its unique structure and focused strategy makes it one of the fastest transformers in the global automotive industry, with mid-decade ambitions dedicated to electrification, sustainability and digitization," the Swedish company said in a statement. Like a number of other carmakers, Volvo has committed to shifting its entire car range to fully-electric models by 2030. Volvo said is targeting an operating margin of between 8% and 10% by 2025. It is also aiming for annual sales of 1.2 million cars, up 56% from the 770,000 it sold in the 12 months to June 20 this year. Electric push The carmaker said it expects 50% of sales to be fully electric cars by the middle of the decade and that 50% of sales will be made online rather than in dealerships. Volvo Cars said earlier on Monday that its sales in September fell 30% from a year earlier, dented by the global components shortage. Sources told Reuters last month that Geely was in advanced discussions with banks to list the Swedish company in the coming weeks, aiming for a valuation of about $20 billion. Volvo Cars had previously said it was considering a Stockholm listing in the second half of 2021. A Volvo spokesperson on Monday said that the company had no comment on valuation or on how much of the business would be sold in the IPO. "There will be further information published in connection with the prospectus," she said. Electric-car maker Polestar, which is owned by Geely and Volvo, last week said it will go public by merging with a U.S.-listed special purpose acquisition company (SPAC) backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Volvo C40 Recharge charging

Why Mazda did so well and Volvo so poorly in Consumer Reports survey

The poor performances of Tesla and all three domestic automakers got the headlines in Consumer Reports magazine's latest reliability survey, but there were other results that caught our interest. Tiny Mazda notched the biggest gain among the 29 brands included in this year's list, leap-frogging nine spots to No. 3. Buick, which was in the top 10 last year, fell 11 spots to No. 19, the biggest decline of any brand. And then there's Volvo, a brand often vaunted for its quality and reliability, dropping six spots to dead last. What gives? For starters, all three brands benefited or suffered in large part due to their relatively small portfolio of vehicles. So when raves or complaints rolled in for even one particular model, as was often the case, it weighed heavily on the entire brand. That's especially true when it involves a relatively high-volume, hot-selling model such as the Buick Enclave (more on that in a moment). Mazda fared as well as it did despite the CX-3 losing Consumer Reports' influential "recommended" status due to problems with its climate system, including leaks from the condenser and refrigerant unit that triggered a service bulletin from the automaker in late 2016. Deputy auto editor Jon Linkov said that scratch didn't hurt the overall brand, since the CX-9 crossover and MX-5 Miata both jumped up to replace it on CR's list of newly recommended vehicles, thanks to several back fixes Mazda made to both models. For Buick, the redesigned Enclave SUV earned a "Much Worse Than Average" rating after owners reported problems with the new nine-speed automatic transmission it shares with the Chevrolet Traverse as well as some issues with the climate system. There were issues with rough shifting, plus complaints about the torque converter that necessitated fixes to the computer or outright replacement. "Again, similar stuff that we saw with the Traverse: both first-year vehicles, similar powertrains," LInkov said. He said all-new vehicles or redesigns typically fare poorly in CR's reliability survey due to issues that are hard to suss out before vehicles go into everyday use by consumers. The top-selling Encore and Envision fared well, Linkov said, but were outdone by the Enclave's problematic transmission components. The Enclave was Buick's second best-selling model through September at 35,227 units. Then there is Volvo, about which there is one word to sum up its woes: infotainment.

2015 Volvo S60 T6 Drive-E [w/video]

The Swedes Bend Sixes And Fives Into Fours
With government agency pressures mounting, the auto industry's latest engine and powertrain trends invariably include the cobbling of heretofore eight-cylinder models into charged (either turbo- or super-) six-cylinder models, six-cylinders into charged four-cylinders and so on. And then there's the mating of these downsized engines to fuel-saving automatic transmissions with ratio counts previously reserved for bicycles and semi trucks. Volvo can at last follow suit with the best of Germany and Japan thanks in great part to an $11-billion multi-year investment by its Chinese owners, Geely.
After we survived the recent Frankfurt Motor Show marathon of news and reveals (chief among said bits being the stunning Volvo Concept Coupe), we were escorted by the Swedish automaker to the far less frenetic air of southern France to explore the most significant step yet in the company's new life. Volvo's entire movement of new tech is referred to as Drive-E, and it includes these all-new four-cylinder engines we just tested, a new modular architecture called Scalable Product Architecture (SPA) that will first be found under the next-generation XC90, along with a host of other onboard advancements. Think of it as a Scandinavia's version of Mazda Skyactiv, a total-systems approach to developing more efficient yet more sporting new models.