In a roundtable discussion with journalists in Detroit, Volvo executives detailed their strategy for reviving the brand's fortunes in the United States. The Swedish automaker owned by China's Geely is on track to sell 60,000 units this year, down from a high of 139,000 in 2004. The strategy includes more leasing and a new, global ad agency, but this is still an industry where product is king and Volvo will also be introducing new powertrains and new vehicles. The company is investing $11 billion over the next five years on new products and factories. The initial effort will be the launch of a redesigned XC90 crossover late next year.
CEO Hakan Samuelsson wants to position Volvo as a "unique premium brand" that competes with BMW, Audi and Mercedes-Benz, a Swedish alternative to the German brands. "Volvo should be premium, but in a different way from the Germans," Samuelsson said. He also said that the foundation of Volvo going forward will be attractive "Scandinavian" design, safety and environmental leadership, and "clever functionality", infotainment systems that use state of the art technology but are simple to operate.
Lex Kerssemakers, Volvo's senior vice president for product strategy and vehicle line management, said the company has started to revamp its entire powertrain lineup. The company will use Volvo designed and built three and four cylinder gasoline and diesel engines based on the same architecture, both naturally aspirated and turbocharged. Hybrids will use a rear axle with an integral electric motor. Volvo is also developing new transmissions with Geely.
The XC90 is based on a scalable architecture that will also be the platform for a new mid-sized Volvo, likely to be branded with a 40 series badge. Besides the new XC90, Volvo will reintroduce the V60 sport wagon early next year. The XC90 will be available with a hybrid powertrain that incorporates the electric rear axle to provide all wheel drive. Performance versions will have combined power ratings of about 400 hp.
Volvo, which has made safety part of its corporate image since the 1950s, is working on autonomous cars, which the company believes will make traveling in automobiles safer. The company's goal is no driver or passenger deaths in Volvo cars by 2020.
from The Truth About Cars http://www.thetruthaboutcars.com
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