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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.

Volvo reveals 400-hp twin-charged PHEV power for new XC90 [UPDATE]

UPDATE: An earlier version of this post indicated that the larger of the conventional diesel engines was a five-cylinder. However all three powertrains announced for the upcoming new XC90 are actually four-cylinder engines. The text has been updated accordingly.
Volvo rolled in to new territory when it introduced the original XC90 back in 2002, creating its first SUV and one of its top-selling models. But that was 12 years ago. In the meantime it's followed up with the smaller XC60, but what the brand faithful and the industry at large have been looking forward to most is the arrival of the new XC90.
Previewed by the Concept XC Coupe at the Detroit Auto Show, the new XC90 is set to arrive later this year, but to keep us on our toes, the Swedish automaker has been steadily trickling out a stream of information and photos. Two months ago it gave us a glimpse inside the cabin, and last month it revealed its new infotainment system, but now Volvo has released details on the upcoming new XC90's powertrain.

First production Volvo S60 Polestar shown off

With the Volvo S60 Polestar going on sale in Australia this June, Volvo has finally released images and specs for the production version of the performance sedan. While no official build number has been announced, one image of the car's steering wheel shows a serial number plaque that says "No. 000/100" indicating that production will likely be limited to just 100 units in Australia. The press release states that the Australia run of Polestar-tuned S60s is a "pilot project" and that other potential markets are "under investigation."
Although it looks very similar to the S60 Polestar Concept we first saw at the LA Auto Show last year, the production version of the car sports a few changes. Visually, the front and rear fascias have been slightly modified from the concept car, as have the matte-black wheels. Inside, we see a different steering wheel that adds the aforementioned build sequence plaque but loses the suede leather accents, and there is also a sportier looking shift lever with a chrome handle that features a Polestar logo.
As for performance figures, rather than the 508-horsepower of the S60 Polestar Concept, the production version will be limited to 350 hp and more than 368 pound-feet of torque, which is still an improvement of about 25 hp and at least 14 lb-ft over a 2013 S60 R-Design. Polestar also tuned the six-speed automatic transmission and Haldex all-wheel-drive system for optimal performance leading to a top speed of 155 miles per hour and a 0-62 mph time of 4.9 seconds. The production S60 Polestar will still get suspension, brake and aerodynamic upgrades.