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Archive for the ‘Volvo’ Category

EU Auto Tariffs Deadline Fast Approaching

European and American automakers alike hope for delay.

by on May.15, 2019

President Donald Trump has until May to either enact new tariffs on EU autos or order a delay.

With one trade war already underway, the White House could kick off another battle this weekend as the May 18 deadline nears for Pres. Donald Trump to decide whether to impose tariffs on European auto imports.

Any move would follow the completion of a Commerce Department study completed last February that concluded auto imports pose a threat to America’s national security. The president has not given a clear indication of how – or whether – he will respond as a 90-day deadline approaches, though he has had harsh words about European automakers in the past, at one point threatening to banish all Mercedes products from the streets of his home city, New York.

Breaking News!

Auto imports from Europe totaled $56.4 billion last year, according to Commerce figures, Germany responsible for the bulk of that. The risk of new tariffs sent shares of German manufacturers BMW, Daimler and Volkswagen reeling in recent days. But even U.S. automakers, as well as suppliers and dealers, have been pressing the Trump Administration to hold back on launching a new front in the trade war.

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You Probably Won’t Be Able to Pronounce Its Name, But Zotye is Betting You’ll Want to Buy One of its SUVs

Stealing a page from the Koreans – and undercutting them, in the process.

by on May.03, 2019

The Zotye T600 shown making its debut at Auto Shanghai last month.

At 69, Duke Hale has been selling cars, either at a dealership or working for an automaker, for 50 years, but he’s betting he can become a sort of automotive Pied Piper to Millennials and Gen-Z.

He and a team of aging Baby Boom industry veterans are getting ready to start selling what may become the first cars imported from a local Chinese carmaker. It’s no easy task, his California-based start-up, known as HAAH, is still pitching its idea to the dealers who will have to bet on a brand that’s not only unknown to American car buyers but which is saddled with the ungainly name, Zotye.

Beyond the Headlines!

Of course, it wouldn’t be the first time U.S. motorists were won over by a brand whose name they’ve had to struggle with. Think Hyundai, which Americanized its name to “Hun-day.” The Chinese brand, pronounced “Zoh-tee,” hopes it can lift some other pages from the Korean carmaker’s playbook, starting with a price low enough to make it an appealing alternative to a used vehicle.

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Volvo Cars Q1 Profits Fall Due to Rising Tariffs, Price Pressure

Automaker sells more cars, but makes less money.

by on Apr.29, 2019

Hakan Samuelsson, Volvo Cars president and CEO, said the company's profits fell in Q1 due to higher tariffs and pricing pressure.

Volvo Cars’ operating profit and net income dropped during the first quarter despite increases in revenue and unit sales, the company reported.

“The continued growth in Volvo Car sales which we have seen in the first quarter clearly shows the quality of our product portfolio. We grew in all regions gaining market share while revenue rose faster than sales due to our product mix,” said Volvo CEO Hakan Samuelsson.

Business News!

However, compared with last year, Volvo’s profitability was undercut by higher tariffs and increased price pressure in many markets, he said. (more…)

Volvo Bringing Out Full-Electric XC40 By Year’s End

New model will be second all-electric behind Polestar 2.

by on Apr.01, 2019

Volvo is going full electric on the XC40 by the end of the year, making it the company's second full-electrified vehicle.

Volvo is expanding its electric vehicle line-up, in a manner of speaking, with the news that it plans to release an all-electric version of its popular small utility vehicle, the XC40, by the end of this year.

The Swedish-based, Chinese-owned automaker recently released its first all-electric vehicle, the Polestar 2 at the Geneva Motor Show. That vehicle will hit the market in 2020. However, Polestar is the Volvo’s performance-oriented all-electric sub-brand so the XC40 news comes as a bit of a surprise.

Electrifying News!

Following the trend of the industry, late last year Volvo said planned to introduce a slew of new electric products. (more…)

Volvo Raises $677M With New Bond Issue

Automaker taps debt markets again instead of IPO.

by on Mar.26, 2019

Volvo Chief Executive Hakan Samuelsson said that trade tensions between the U.S. and China as well as the EU were one reason to halt its IPO last year.

More than half a year removed from squelching a run at a stock market listing, Volvo Cars raised 600 million euros, or $677 million, with a new bond issue on Tuesday.

The new issue is the second in the last year for the Swedish/Chinese automaker, which is owned by China’s Geely, as it looks to find ways to fund its ongoing development of battery-electric cars and self-driving vehicles.

Business News!

Volvo said on the Tuesday the bond would mature in April 2024, pay a fixed coupon of 2.125% and have an issue price was 99.625, equating to a yield of 2.205% and a Euro mid-swap of plus 215 basis points. The settlement was expected to be April 2, and the bonds would be listed on the Luxembourg Stock Exchange, Volvo said. (more…)

Volvo Using Cameras to Prevent Distracted, Drunk Driving

Move comes after plans to keep top speed to 112 mph.

by on Mar.21, 2019

Volvo plans to use in-car cameras and other sensors to help prevent drunk and distracted driving crashes.

Volvo Cars is looking to finish what it loosely describes as a safety “triangle” by using in-car cameras and other sensors to prevent crashes and fatalies due to drunk or distracted drivers by 2021.

Last month, the company introduced the first “side” of the triangle by limiting the top speed of its non-Polestar vehicles to 112 mph. Now by ensuring whomever is behind the wheel is capable of making appropriate decisions, Volvo believes it is significantly closer to its goal of zero traffic deaths.

Safety News!

“When it comes to safety, our aim is to avoid accidents altogether rather than limit the impact when an accident is imminent and unavoidable,” said Henrik Green, senior vice president, Research & Development at Volvo Cars. “In this case, cameras will monitor for behavior that may lead to serious injury or death.” (more…)

Volvo to Limit Speed of All Future Models to 112 MPH

Move to address “dangers of speeding” comes as part of Vision 2020 safety plan.

by on Mar.04, 2019

Volvo Chief Executive Hakan Samuelsson said to improve the safety of its vehicles, they will be limited to 112 mph starting in 2021.

As part of its plan to prevent all deaths in future products, Volvo said Monday that it will limit the top speed to a maximum 180 kmh, or 112 mph starting with all models produced in 2021.

The automaker has laid out a strategy, dubbed Vision 2020, that aims to prevent all deaths and serious injuries in its products. It has been rolling out an assortment of passive and active safety features to help reach that goal, but sees the new self-imposed speed limit as a critical element in reaching its target.

News Now!

“Because of our research, we know where the problem areas are when it comes to ending serious injuries and fatalities in our cars,” said Håkan Samuelsson, president and chief executive of Volvo Cars. “And while a speed limitation is not a cure-all, it’s worth doing if we can even save one life.” (more…)

Americans See Electric Vehicles as the Future, Survey Says

Respondents view EVs as more impactful than recycling.

by on Feb.27, 2019

Volvo was looking for insights about Americans' views of electric vehicles with a new poll.

A new survey commissioned by Volvo Cars USA indicates that roughly three-quarters of American drivers believe electric vehicles are the future of driving.

Volvo said the poll, which was conducted by The Harris Poll, was done because the automaker wanted to develop a better understanding of current perceptions of electric vehicles and how people think EVs could meet their day-to-day driving experiences, including the challenges and the benefits.

Tech News!

One key finding of the poll was that 59% of all drivers feel driving an EV has a positive environmental impact, outweighing activities such recycling, switching to paperless billing or utilizing smart home technology to regulate residential heating and cooling. (more…)

First Look: Polestar 2 Goes All Electric

Long-range performance EV to serve as “foundation of our brand.”

by on Feb.27, 2019

The Polestar 2, the brand's first fully battery-electric vehicle, made its debut.

In a global webcast, Volvo’s new performance subsidiary pulled the wraps off its second new model, the Polestar 2, a battery-electric vehicle set to become “the foundation of our brand,” according to Polestar CEO Thomas Ingenlath.

Set to compete with the likes of the Tesla Model 3, the new offering will initially be offered in key growth markets for electric vehicles, including North America, China and Europe. The base European model will start at 39,900 euros, or about $45,000 at current exchange rates, with the U.S. “Launch Edition” starting at $63,000 before incentives.

Product News!

But Ingenlath noted that Polestar’s goal is to rethink the entire design, manufacturing and sales process, with the company putting an emphasis on all-inclusive subscriptions, rather than conventional retail sales. (more…)

Volvo Updating XC90 for 2020, Launching B5 Mild-Hybrid Technology

Three electrified options attached to new powertrain.

by on Feb.22, 2019

Volvo is introducing its new XC90 that by 2020 will feature three different mild hybrid powertrain options.

Volvo is updating its flagship XC90 crossover for 2020, and the biggest news is likely to be the introduction of a new mild-hybrid powertrain that, the automaker claims, marks a “significant step” in its push to electrify its entire line-up.

Three different versions of the mild hybrid technology, dubbed B4, B5 and B6, will be launched for the 2020 model-year, Volvo claiming that they will boost fuel economy by “up to” 15%, while achieving a similar reduction in emissions.

Product News!

The archetype of Volvo’s ongoing transformation, the XC90 was the first to get Volvo’s T8 Twin engine plug-in hybrid system. That is also being upgraded for 2020. The global edition will feature a new battery and a brake-by-wire system that can recapture more energy normally lost during braking and coasting. The U.S. spokesperson said it was not yet clear if those upgrades will be available for the 2020 American edition of the XC90. (more…)