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Volvo returns to profitability

Ford sold Volvo to Zhejiang Geely Holding Group Limited in 2010. Just two years later, Geely announced an $11-billion investment in the Swedish carmaker, its charismatic fugleman Li Shifu saying, "We want to revive Volvo and give the brand its strength back." Two years later, after having introduced the Concept XC Coupe at the Detroit Auto Show this week, Volvo CEO Håkan Samuelsson (above, second from right) declared the company profitable again after a solid 2013 and predicted a positive 2014.
Intending to break even on operating profit in 2013, Volvo exceeded expectations and landed on the plus side due to a mix of factors. US sales declined 10.1 percent for the year to 61,233, that number still making us Volvo's largest market, but Chinese sales were up nearly 46 percent to 61,146 units, and even its home market saw a bump of 0.8 percent; total sales for the year were 427,840, a margin of 1.4-percent over the previous year. Volvo was able to do more with the tiny gain and reverse its half-year operating loss because of a global cost restructuring and thorough revamp of its Chinese distribution network. An announcement of 2013's financial results will come in March.
Bullishness on 2014 comes from the company's intention to focus on its two biggest markets with new models, new technology and more spending. The first product of an independent Volvo, the new XC90, will be revealed later this year on the new SPA architecture. On top of the Sensus Connect infotainment system, Volvo will add driver-aid systems like adaptive cruise control with steer assist and night-time pedestrian detection. It also has a new North American CEO and will spend more on marketing and communications here. In China it will begin to feel more effect from the two Chinese factories opened last year - it has three in the country - and, if need be, can take advantage of more advantageous exchange rates by exporting from China instead of the US. Said Samuelsson of what he expects in the US in 2014, "we will outperform the market."

Volvo Concept XC Coupe does the full monte ahead of Detroit debut [w/video]

When the doors open at the Cobo Center next week for the 2014 Detroit Auto Show, Volvo will lift the veil on its new Concept XC Coupe. But you don't have to even wait that long. A set of images leaked out yesterday to accompany a teaser video released by Volvo, but now the Swedish automaker has revealed the full thing.
The second of three new concept cars aiming to show the way forward for the brand, the Concept XC Coupe follows the Concept Coupe revealed last September. Based on Volvo's Scalable Product Architecture, the Concept XC Coupe is expected to preview the next-generation XC90 crossover, but with two fewer doors and a four-seat cabin.
With orange details, matte rubber moldings and underbody skid plates, the design is said to have been inspired by outdoor equipment manufacturer POC - naturally also based in Sweden - whose products are favored by extreme athletes around the world. It rides on 21-inch wheels and incorporates T-shaped DRL headlights, with distinctive tail-lights earmarked to make their way onto the next generation of production Volvos.

Volvo calls in S60 T5 over oil pressure indicator

As anyone with a driver's license should be able to tell you, the oil pressure indicator on a car is a vital feature. If you don't have enough oil pressure, your engine could seize up, leaving you stranded and causing catastrophic damage for both your automobile and your wallet. Worryingly, then, the National Highway Traffic Safety Administration says that the oil pressure indicator lamp on certain Volvo S60 models is prone to failure, prompting the manufacturer to issue a recall.
The issue pertains to MY2011-2012 Volvo S60s with turbocharged five-cylinder engines manufactured between June 22, 2010 and May 14, 2012. All told, precisely 30,929 units are affected by the recall campaign. The owners of affected models will be notified by Volvo to bring in their cars to their local dealer for a software update. See the official notice below for details.