2003 Volvo S40, 4dr, Automatic, 103k Miles on 2040-cars

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Car subscription services: A slow, expensive start — but the potential is huge

Americans are used to paying for subscriptions — to magazines and cable television, for instance — but experience shows they'll cancel when the price of admission gets too high, or there are more tempting alternatives. Cord cutters ditched nearly 1.5 million pay-TV subscriptions in 2017, according to a survey by Leichtman Research Group. Cable TV started out cheap with basic offerings, and then got expensive. The auto industry's subscription offerings are new, but they're starting out costly, and not price-competitive with traditional leasing. The upside is that they take the hassle out of car ownership for busy people by letting the service take care of maintenance, insurance, licensing and taxes. And they give consumers choice, often allowing relatively painless switches between different cars in the automakers' lineup. Subscription services also point the way toward an ownership-free auto experience, and offer an easy transition to a potential world where ride- and car-sharing will be dominant. Subscriptions are here to stay, but consumers may take a while to "get" them. Lincoln's subscription service for lightly used 2015 to 2017 models, offered through the Ford-owned Canvas beginning this year, got off to a slow start. Many early subscribers canceled. Last month, Cadillac announced it would " temporarily pause" its $1,800-per-month Book subscription service for "adjustments" as of December 1. According to the Wall Street Journal, "Snags with the back-end technology used to support the service made some customer-service functions tedious and time-consuming, adding costs for the company." The challenge for automakers is to come up with a strategy that offers consumers a compelling, affordable option to regular ownership, and one that can also make a profit. I think they'll find that sweet spot, but they're not there yet. Jack Nerad, former executive editorial director at Kelley Blue Book and author of " The Complete Idiot's Guide to Buying or Leasing a Car," points out that "A lot of people expected that subscriptions would be very valuable for people who wanted inexpensive transportation, but the reality is quite the opposite. Subscriptions are offering more choices for the wealthy.

Polestar gets $1.6 billion boost from Volvo, other big stakeholder

Polestar said on Thursday it had secured $1.6 billion in financing from its two main shareholders to help it deliver its growth plans amid volatile markets. Volvo, which co-founded the brand with China's Geely in 2017, said it would provide an $800 million loan to the firm. Its other major shareholder, PSD Investment, will provide the same amount through "direct and indirect financial and liquidity support," Polestar said. Volvo, which owns just over 48% in Polestar, said its loan included options for Volvo to convert some of its loans to equity in a potential future equity raising by Polestar. "We welcome the continued support from our major shareholders at a time when the capital markets are volatile and unpredictable," Polestar CEO Thomas Ingenlath said in a statement. The Sweden-based carmaker said the funding, alongside previously secured resources, would provide the company with sufficient funds through 2023. In June, Polestar was listed on the Nasdaq through a merger with a special purpose acquisition company (SPAC). Volvo, like other major carmakers, has in recent years invested heavily in making its own electric vehicles and has also said it was committed to supporting Polestar. Volvo aims to sell only fully electric cars by 2030, while Polestar has a goal to launch three more cars by 2026. In February, Volvo formed a joint venture with battery manufacturer Northvolt to build a battery plant in Gothenburg which would produce battery cells specifically for electric Volvo and Polestar cars. However, carmakers and suppliers are struggling as costly investments in an electric future coincide with rampant inflation and soaring energy prices. Polestar's third quarter results are due on Nov. 11 Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2024 Polestar 3 revealed

Driveable Volvo V70 wagon built from 400,000 Lego pieces

We've seen life-size Lego vehicles before, but a Swedish man has created the ultimate brick-built car. That's because David Gustafsson's 1:1 scale Volvo wagon actually drives. Volvo recently shared some photos from the Ecar Expo in Gothenburg, Sweden, where the Lego car was on display. One would think that to undertake such a project it would be easiest to re-create an older Volvo, like a 240 or 740 wagon. After all, those were so boxy they earned the nickname Turbo Bricks as a term of endearment from enthusiasts. Instead, Gustafsson chose to replicate his own V70 wagon, a third-generation model built from 2008-16, which has no shortage of complex curves to replicate. Most life-size Lego replicas are static displays, never meant to move. Most don't even have interiors. Gustafsson's Volvo, on the other hand, not only features a full interior, but has doors that swing open, a gear selector that clicks into various positions, and climate control knobs that turn.  The fun doesn't end there. The Lego V70 has side mirrors that pivot, just like the real thing, as well as active headlights that swivel along with the front wheels when the steering wheel turns. The piece de resistance is the fact that this Volvo actually drives, thanks to an electric motor and battery pack. Speeds must be kept low, of course, but it can start, move, steer and brake via a remote control. The Volvo's only non-Lego parts are the wheels and tires, powertrain and a metal frame. It took Gustafsson over a year and over 400,000 pieces to build the car. He was a winner of the Lego Masters competition in 2020, through which he won the majority of the pieces. According to Klyker, the combined weight of the bricks tipped the scales at 1.2 tons, but the win gave Gustafsson the ability to fulfill a lifelong dream of building a full-size car out of Lego. With the help of Volvo Cars, Gustafsson's re-creation will soon begin a tour across Sweden. It will visit various events across the country from February 22 to August 4.