Swedish auto-maker Volvo Cars is recalling 507,000 vehicles worldwide because of a faulty engine component that could lead to a fire.
Tag: Volvo
Volvo recalls more than 500,000 cars worldwide over fire risk
Volvo Almost 70,000 vehicles in the UK are affected by problem with plastic part in engine Certain Volvo diesel models built between 2014 and 2019 are affected by the engine problem. Photograph: Benjamin Gorczyca/PA More than 500,000 Volvo cars are being recalled worldwide, including 70,000 in the UK, because of a fire risk in the… Continue reading Volvo recalls more than 500,000 cars worldwide over fire risk
Volvo Cars invests in Israeli tech start-ups MGGo and UVeye
Volvo Cars invests in Israeli tech start-ups MGGo and UVeye
UVeye Raises $31m in Funding
UVeye, a Stamford, Connecticut and Tel Aviv, Israel-based company which provides solutions for automatic external inspection of vehicles, raised an additional $31m in funding. The round, which brought total funds raised since 2017 to $35m, was led by Toyota Tsusho, Volvo Cars and W. R. Berkley Corporation. Led by Amir Hever, CEO, UVeye has developed… Continue reading UVeye Raises $31m in Funding
Lotus Evija supercar marks start of a new electric era for sports-car brand
Lotus is no newcomer to electric cars, having produced the chassis for the original Tesla Roadster.
On Wednesday, the British sports car company unveiled its own electric sports car, the Evija, which it says will be the most powerful car on the market with electric motors producing 1,973 horsepower. The company didn't list its battery size, but says it will be able to charge fully in nine minutes.
With the Evija, the brand is climbing away from the attainable sports cars it currently produces—including the Elise, on which Tesla based its original Roadster—back toward supercars like the Elite, only with an electric drivetrain.
The Evija was designed in conjunction with British engineering consultancy Williams Advanced Engineering, and only 130 will be made. The car will compete with the upcoming Pininfarina Battista, targeted to have 1,877 horsepower. Pininfarina, a new automaker from the renowned Italian design house, will produce 150 Battistas starting next year.
Phil Popham at the Lotus Evija launch
The Evija is based on an updated version of Lotus' current platform.
Chinese auto giant Geely, which owns Volvo, has a controlling stake in Lotus. The British brand plans other new models to follow the Evija, based a Geely platform designed for electric powertrains, CEO Phil Popham told British auto magazine Autocar in an interview.
The new models will be more focused on practicality and affordability and will be designed to carry both batteries and electric motors and gasoline powertrains. Every new model from Lotus, however, will offer an all-electric version, Popham said, though those future models are still several years off.
Echoing plans from 2008, when the company introduced the larger Evora, Lotus plans to expand production with a range of more mainstream sports. cars. Popham cited a target of 10,000 cars a year to fill out its manufacturing facility in Hethel, England. It also has plans to expand production in China.
GM’s Biggest Chinese Ally Braces For First Annual Sales Dip
(Bloomberg) — SAIC Motor Corp. expects annual sales to fall for the first time in at least 14 years as China’s biggest automaker battles through a slump in demand roiling the world’s largest car market, according to people familiar with the matter.The Shanghai-based company, Volkswagen AG and General Motors Co.’s biggest auto-making partner in China,… Continue reading GM’s Biggest Chinese Ally Braces For First Annual Sales Dip
VW pounds another nail in the coffin of the station wagon, drops Golf SportWagen and Golf Alltrack
Volkswagen Golf Sportwagen Alltrack seen at the New York International Auto Show at the Jacob K. Javits Convention Center in New York. (Photo by Michael Brochstein/SOPA Images/LightRocket via Getty Images)Michael Brochstein | LightRocket | Getty ImagesAs it gets ready to wrap up the 2019 model year, Volkswagen says it will drop both the Golf SportWagen and Golf Alltrack models from its lineup.
The move announced Wednesday comes as a major blow to station wagons, a body style that was ubiquitous in the years when baby boomers were still in knee pants, but which has all but vanished in today's SUV-crazed market.
“SUVs have definitely assumed the mantle of family haulers from the station wagons and minivans we remember from our childhoods,” said Scott Keogh, president and CEO of Volkswagen of America.
2018 Buick Regal Tour XSource: General MotorsNot a wagonThe list of wagons has grown steadily thinner over the last several decades, with only one now offered by the Detroit-based manufacturers that produced them by the millions in the 1950s, 1960s and into the 1970s. Buick has a station wagon it doesn't even call a wagon, hoping it can generate more enthusiasm by dubbing it the Regal TourX.
Volvo, a brand long associated with wagons, has taken the same approach with some of its models. If you want the V60 it announced last year, you will have to special order the compact wagon. It has had more success by taking some models, boosting their height, adding SUV-style cladding and dubbing them with names like the V90 Cross Country.
The luxury market was one of the last bastions for wagon fans. But even there, the market is fading out. BMW decided not to bring the new wagon version of its updated 3 Series to the U.S. this year, and Jaguar is widely expected to phase out its XF Sportbrake which got little momentum out of using the British term for wagon.
Demand tumblesVolkswagen had been intent on remaining in the segment but the sales numbers just couldn't support a sound business case.
For all of 2018, the German automaker sold a grand total of just 14,123 Golf SportWagens, a 47% decline. Demand tumbled another 36% for the first seven months of this year, averaging out to barely 750 of the wagons a month. The Alltrack faced a similar decline.
By comparison, U.S. sales of Volkswagen's various SUVs rose 12% through the end of July, despite the phaseout of the original Touareg model. And it is planning to add three more SUVs by 2021, including the five-seat Atlas Cross Sport, the all-electric ID. Crozz and a subcompact that has not yet been named.
“Consumers want utility vehicle and so, for the U.S. market, automakers are adding more of them while taking wagons away,” said Stephanie Brinley, principle auto analyst with IHS Markit.
The 2020 Subaru Outback is revealed at the 2019 New York International Auto Show in New York City, April 17, 2019.Shannon Stapleton | ReutersSubaru's committedThere still are some options for wagon fans, including the Buick Regal TourX, Volvo V90 and, for the moment, the Jaguar XF Sportbrake. Mercedes-Benz offers several versions of the E-Class, including the high-performance AMG E63 S Wagon. Porsche has a wagon version of the four-door Panamera, the Sport Turismo, and Mini offers the Cooper Clubman /S.
But no manufacturer remains more committed to the body style than Subaru, with three different models: the Outback, Crosstrek and Impreza.
With the vultures circling around the Jaguar, observers are wondering which of these current offerings might be the next to fall by the side of the road. Brinley doesn't see much life left in the segment, but she doesn't think automakers are ready to give up entirely.
They've tried coming up with more appealing names, like TourX and Sportbrake. But they've also been tinkering with hybrid designs that are meant to blend the best of wagon and utility vehicle. So far, that hasn't worked very well, with models like the Accord CrossTour, Acura ZDX, BMW 5-Series GT and Toyota Venza failing to click with consumers.
“They haven't found the right answer to that fill-in-the-gap question,” she said, “but they're likely to keep trying.”
REFILE-UPDATE 1-Volvo Cars to cut costs as trade war dents profits
STOCKHOLM (Reuters) – Volvo on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability. FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in front… Continue reading REFILE-UPDATE 1-Volvo Cars to cut costs as trade war dents profits
Volvo Cars to cut costs as trade war dents profits
STOCKHOLM (Reuters) – Volvo on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability. FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in front… Continue reading Volvo Cars to cut costs as trade war dents profits
UPDATE 1-Volvo Cars to cut costs as trade war dents profits
STOCKHOLM (Reuters) – Volvo on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability. FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in front… Continue reading UPDATE 1-Volvo Cars to cut costs as trade war dents profits