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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 to build range-topping S90 sedan in China

Volvo is furthering its deep ties in China by announcing a major expansion to its factory in Daqing that will equip the site to build its future S90 sedan. The automaker is promising to make the plant, "one of the most advanced car making facilities in China," according to its press release. Unfortunately, the company isn't specifying the amount being invested or how long the work will take.
Because the northeastern Chinese city of Daqing owns about 37 percent of the automaker, the location for the significant expansion isn't entirely surprising, especially since Geely owns a majority stake in the Swedish brand. The existing factory there employs about 700 people to build the original XC90 for the local market, but the upgrades will allow the plant to handle Volvo's Scalable Product Architecture modular platform.
To be fair, Volvo doesn't specifically call out the S80-replacing S90 by name in its announcement. However, it promises the first vehicle built in Daqing after the expansion will be a new premium sedan, and the upgrades will allow the plant to make "most innovative vehicles in its product range," and the range-topping sedan is widely expected to adopt the S90 moniker.

Volvo C30 Polestar Concept hits the 'Ring

It's been over three years since the Volvo C30 Polestar Concept was unveiled, driven by journalists and, as it turns out, lapped around the Nürburgring with Scandinavian Touring Car Championship driver Robert Dahlgren behind the wheel. For whatever reason, the video of the 'Ring track session was only published by the tuning company yesterday. (Another discrepancy: Did Polestar's C30 lose 46 horsepower somewhere along the line? Because the video states that it has 405 hp, while the company's website quotes 451 hp...)
Whatever the case, the tuned Volvo is a beast, much more so than the similar-looking, 250-hp 2013 Volvo C30 Polestar Limited Edition that was sold last year. With 451 hp (sounds better than 405 hp, doesn't it?), all-wheel drive, limited-slip differentials front and rear and Öhlins dampers, the Polestar Concept checks all of the right boxes for us.
For some reason, the video, which you can watch below, seems a bit vanilla to us. Perhaps the overly dramatic music takes away from the action and the beautiful sounds of the turbocharged five-cylinder engine?