1998 Volvo S70 Glt Sedan 4-door 2.4l on 2040-cars

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China's Geely says it has no plan to buy Fiat Chrysler — as FCA stock leaps

HONG KONG — Chinese carmaker Geely Automobile denied media speculation on Wednesday that it planned to make a takeover bid for Fiat Chryslerk Automobiles (FCA), the world's seventh-largest automaker. Geely was one of several Chinese carmakers cited in by Automotive News, which said representatives of "a well-known Chinese automaker" had made an offer this month for FCA, which has a market value of almost $20 billion. "We don't have such a plan at the moment," Geely executive director Gui Shengyue told reporters at an earnings briefing, when asked if Geely was interested in Fiat. He said a foreign acquisition would be complicated, but he did not elaborate. "But for other (Chinese) brands, it could be a fast track for their development," Gui added. However, a source close to the matter said FCA and Geely Automobile's parent firm, Zhejiang Geely Holding Group, had held initial talks late last year, without disclosing their nature. The source confirmed Geely was no longer interested in FCA, noting that the parent company had only three months ago announced its first push into Southeast Asia with the purchase of 49.9 percent of struggling Malaysian carmaker Proton, a deal that also included a stake in Lotus. Geel's denial failed to dent FCA's stock. The price of its Milan-based shares has jumped more than 10 percent to a 19-year high since Automotive News first reported on Monday, citing unnamed sources, that FCA had rejected the Chinese offer as too low. FCA stock on the New York Stock Exchange rose sharply on Monday from $11.60 to $12.38 and on Wednesday was trading at $12.84. FCA declined to comment on Wednesday. FCA Chief Executive Sergio Marchionne has repeatedly called for mergers as a way of sharing the costs of making cleaner, more advanced cars, but he has repeatedly failed to find a partner and retreated from his search for in April, saying FCA would stick to its business plan. He has also spoken of spinning the successful Jeep and Ram divisions off from FCA. Europe's largest carmaker, Volkswagen, and General Motors have both said they are not interested in talks with FCA. On Wednesday, Geely Automobile reported a doubling of first-half profit, above expectations, as cars designed with Sweden's Volvo won over domestic consumers. Volvo is a unit of the Zhejiang Geely group, and has recently announced it will share its technology with Geely.

NACTOY announces top nine finalists for Car, Truck and Utility of the Year

Finalists for the 2024 North American Car, Truck and Utility Vehicle of the Year (NACTOY) Awards were announced at this year’s L.A. Auto Show. This whittles the field down to nine vehicles in total, with the winners scheduled to be announced on January 4, 2024. The finalists in their respective categories: Car category: Honda Accord, Hyundai Ioniq 6, Toyota Prius Truck category: Chevrolet Colorado, Chevrolet Silverado EV, Ford Super Duty Utility category: Genesis Electrified GV70, Kia EV9, Volvo EX30 These nine cars were chosen from a list of 25, which was previously narrowed down from a list of 52 eligible vehicles. Notable misses include the Chevrolet Corvette E-Ray, Toyota GR Corolla, GMC Canyon, Ford Ranger, Chevrolet Blazer EV, Chevrolet Equinox EV, Mazda CX-90 and Toyota Grand Highlander, among others. Jurors will now evaluate the final nine through the end of the year to determine the four winners. Autoblog Editor-in-Chief Greg Migliore is among the jurors. Green LA Auto Show Chevrolet Ford Genesis GM Honda Hyundai Kia Toyota Volvo Truck Crossover Hatchback SUV Electric Hybrid Luxury Off-Road Vehicles Performance Sedan

Volvo won't entirely give up on sedans and station wagons

Volvo, like an overwhelming majority of its peers and rivals, sells more SUVs and crossovers than sedans and station wagons. It confirmed plans to pivot away from low-riding models in 2021, but it stressed that it's not ready to throw in the towel in either segment quite yet. "Yes, the [V and S lines] will be replaced with something even more attractive to customers," affirmed company boss Hakan Samuelsson in an interview with British magazine Autocar. His comments come as a relief for Volvo wagon fans around the world, given that in 2021 he had said that the company needs "to move [on] from wagons and sedans." There's a catch, though: Future V and S models will look quite different than today's. Samuelsson (who will step down from his position in March 2022) acknowledged that Volvo needs lower-riding cars but noted that their design will evolve and become "maybe a little less square." It's not just about style, either. "Cars will be less boxy in the future, when we need to have lower air resistance. You could call it coupe-ish. We talk a lot about range in electric cars, but I think we will start looking at energy efficiency, and of course air resistance will be very central to that," he said. It helps that sleeker designs help keep buyers interested in sedans. Volvo's S90 and V90 were introduced and 2015 and 2016, respectively, so they're expected to be replaced in the not-too-distant future. One point that's still up in the air is what they'll be called. The Swedish company is preparing to ditch its alphanumerical naming system in order to give its cars an actual name, so both nameplates will die with the current-generation models. We'll have a better idea of what the future has in store when the XC90's replacement arrives later in 2022 with a new name, a new architecture, and a large serving of new technology. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.