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ABOUT VOLVO CAR CORPORATION

The global brand tagline Volvo for life is linked to the company's heritage. It summarises the soul of the Volvo brand and captures the essence of our mission.

OWNERSHIP

Since 1999 VCC has been 100% owned by Ford Motor Company.
The ‘Volvo' name is the property of Volvo Trademark Holding AB, which is owned jointly by Volvo Car Corporation and the company's former owner, AB Volvo.
For more information, please visit www.ford.com or www.media.ford.com

COMMUNICATION

Media Information
To find information such as press releases, images and videos, also in broadcast quality, please register on www.media.volvocars.com.

You Tube
In response to the strong growth of film and video communication on the internet, Volvo Car Corporation has launched its own YouTube channel. The "Volvo Cars News" channel will carry everything from commercials and PR productions to television documentary material. The aim is to offer visitors worthwhile, enjoyable films about the latest products, and also to take them behind the scenes at Volvo Cars.
www.youtube.com/volvocarsnews

Contact information to VCC headquarter is:

Volvo Car Corporation
Public Affairs

PVH50, 50200
SE-405 31 Göteborg
SWEDEN

Telephone (switchboard): +46 31 590000
Fax: +46 31 544064

YEAR 2008 

SALES

Global sales volumes totalled 374,297 units, a decline of 18.3 percent vs. the record year 2007. While a number of markets grew in volume and market share, e.g. the UK and Eastern European markets, the weakening car market in critical markets such as the US and Sweden explains the lower total volume. 

Russia and China have established themselves as major sales markets on the top 10 sales list and the Volvo V50 became the best selling Volvo model after a succesful update, followed by the Volvo V70 and XC90.

PRODUCTION

In 2008 Volvo Car Corporation produced a total of 366,249 cars, where of 181,425 were manufactured in Ghent, Belgium and 165,129 were manufactured in Gothenburg, Sweden. In addition, 12,800 cars were produced at Pininfarina Sverige AB's facilities in Uddevalla, Sweden (the Volvo C70 convertible). The production in Chongqing, China totalled 5,811 cars (Volvo S40). Volvo Cars also assembled a limited number of so called completely knocked-down (CKD) units in Malaysia (474 cars) and Thailand (610 cars). 

Production milestones
The very first Volvo car left the factory on April 14, 1927 in Lundby, Gothenburg; a Volvo ÖV4 "Open Wagon". On February 20, 2008, it was once again an open car that was under the spotlights, when car number 15,000,000, an attractive Volvo C70 convertible, left the factory in Uddevalla. In June the 6 millionth car was produced in the Volvo Cars Torslanda Plant. Also, on August 8, the four millionth car was built at Volvo Cars Ghent, a plant which today has about 3,790 employees, busy producing the new DRIVe range of the Volvo C30, S40 and V50 as well as the all-new XC60 crossover and S60.

PRODUCT NEWS 

2008 was a busy year with a number of new product launches. The all-new XC60 crossover had its world premiere and a range of new low emission versions of the C30, S40 and V50 were launched. Also, Chinese customers got a preview of the long wheelbase S80L and by the end of the year the first pictures of the exciting S60 concept were released. On top of this, a fuel saving Powershift gearbox was introduced and last but not least the range of flexifuel versions was further broadened to include five of the Volvo models. 

Safe, stunning and smart - the new Volvo XC60 crossover The new Volvo XC60 is stepping into what is currently the automotive world's fastest-growing segment - the "Small Premium Utility" segment. The new XC60 had its premiere showing at the international car show in Geneva in March, with the first cars reaching dealers in Europe in autumn 2008. By 2009, this segment is expected to expand by 75 percent to 443,000 cars. The big safety news in the XC60 is City Safety - a unique feature that can help the driver avoid or reduce the effects of the type of low-speed impacts that are common in city traffic and traffic tailbacks. The XC60 project has its sights set on a target group that imposes high demands on design, brand integrity and high-tech content.

The new Volvo C30, S40 and V50 1.6D DRIVe - with CO2 emissions of 115 and 118 g/km
At Paris Motor Show in early October, Volvo Cars presented economical new diesel variants of the C30, S40 and V50 models with fuel consumption of just 4.4 litres/100 km (C30) or 4.5 litres/100 km (S40 and V50). The corresponding CO2 figures of 115 and 118 g/km mean that the C30 and V50 have best-in-class CO2 emissions in their segments. All three models - the C30, S40 and V50 - are equipped with a special set of efficiency-enhancing features and marked with the DRIVe emblem to signal their updated environmental properties. 

S80L tailored for China
Volvo Car Corporation presented the Volvo S80L at the 6th Guangzhou Motor Show in south China in November. The S80L, a long wheelbase version of the popular S80 sedan, has been locally tailored and specifically designed for the market in China. Furthermore, the Volvo S80L will be locally produced in China. The new design was unveiled by Dr. Alexander Klose, CEO of Volvo Car China, and marks the acceleration of Volvo's localization plan.

Powershift gearbox cuts fuel consumption by 8 percent
The two-litre turbodiesel versions of the Volvo S40, V50, C30 and C70 models are now also available with a fully-automatic transmission. 

This new Powershift transmission is a six-speed unit and it significantly cuts fuel consumption compared with a conventional automatic transmission. Powershift gives the driver an automatic transmission that permits sequential gear changes, just like with Volvo's Geartronic transmission. The difference is that with Powershift even manual gear changes take place without any time or power losses. The Powershift transmission has been developed by Volvo Car Corporation in cooperation with its transmission partner Getrag. 

Wide range of alternative fuels and technologies
Volvo Cars has one of the car market's broadest ranges of E85 models. All told, five models are on offer, each available with one or two Flexifuel (bioethanol) engines. In 2008, the Volvo V70 and Volvo S80 were introduced with a five-cylinder 2.5-litre turbocharged Flexifuel engine producing 200 hp (147 kW) and 300 Nm of torque. The Flexifuel variants of the Volvo S40, V50 and C30 have a four-cylinder 1.8-litre engine (1.8F) producing 125 hp (92 kW) and 165 Nm of torque. The newest Flexifuel market is Thailand, where Volvo offers C30 1.8F and S80 2.5FT. The Swedish market company competed in the 2008 Swedish Touring Car Championship (STCC) with an E85 bioethanol-powered Volvo C30, and finished on 4th position. Further, Volvo Cars Sweden has commenced a cooperation with Gothenburg based supplier Alternative Fuel Vehicles, who will modify the V70 2.5FT to include also biogas/natural gas/hytan as an additional fuel for this model - a true multifuel vehicle. Multifuel Volvo vehicles are also under development or on offer in Italy, Germany and Switzerland by working with external suppliers.

CORPORATE UPDATE

Stephen Odell appointed President and CEO
Stephen Odell was appointed President and CEO of Volvo Car Corporation from 1 October 2008, succeeding Fredrik Arp. Before joining Volvo, Stephen Odell was Chief Operating Officer, Ford of Europe, responsible for product development, manufacturing, purchasing, and marketing, sales and service operations, and prior to that, he held several senior level positions at Mazda and Jaguar.

John Fleming new Chairman of the Board
On November 1, John Fleming was elected Chairman of the Board of Volvo Car Corporation, succeeding Lewis Booth.

Efficiency actions implemented globally
The financial crisis which spread around the world in 2008 created a rapidly deteriorating market situation in the global car industry. As a response to this development, the decision was taken to cancel the third shift in the Torslanda plant to balance production volumes to lower order levels. Further, global workforce was reduced by 4,600 people, including 1,200 consultants. The company was able to limit the redundancy numbers due to significantly reduced costs in other areas, such as supplier contracts, purchased services, IT and co-location of offices.
Going into 2009, Volvo Car Corporation had a total of about 20,000 employees worldwide. 

Also, a new organisation has been formed, merging various departments to achieve synergies and more efficient internal communication. The new setup means a flatter organisation and more of the strategic competencies will be moved in-house. In Manufacturing, the Best in Class project continues in order to achieve savings by increasing quality in the manufacturing chain. The Marketing and Sales organisation has introduced a new more efficient sales region structure and in Purchasing, synergies and product cost savings are in focus in close cooperation with suppliers. 

Research and Development continues to be one of the core activities in Volvo Car Corporation, and the company will now focus research and development resources on CO2-related projects to accelerate the development of low emission products using a broad range of fuel saving technologies.

ENVIRONMENT

During 2008, DRIVe was launched as a trademark for the continuous environmental work at Volvo Cars - not only CO2 and fuel consumption, but everything from production to recycling. It reflects the commitment to sustainable mobility and the drive towards zero emissions, and represents the promise for continued improvement.

When it comes to petrol engines, Volvo Cars will in 2009 start introducing a new generation of four-cylinder turbocharged engines with direct injection, a technology known as GTDi (Gas Turbo Direct injection). In the diesel hybrid that Volvo Cars is developing, the front wheels are driven by a further-developed variant of Volvo's five-cylinder D5 turbodiesel, while the rear wheels get a separate electric motor. The next step is a plug-in hybrid, which is scheduled to come after 2012.

5 models nominated for World Green Car of the Year award
The C30, S40 and V50 DRIVe models and the V70 2.5FT and S80 2.5 FT (bioethanol powered) have all been nominated for World Green Car of the Year 2009. The winner will be announced at the New York International Auto Show in April 2009.

New state-of-the-art wind tunnel gives Volvo buyers reduced CO2-emissions and lower fuel consumption
One of the world's most advanced wind tunnels is Volvo Cars' new tool in the quest for lower fuel consumption and reduced carbon dioxide emissions. Volvo Car Corporation is the first car manufacturer to own a wind tunnel that fully simulates the airflow around and underneath the car's body, combined with wheel rotation on a flat road surface. This 20 Million Euro investment is already paying quick dividends, delivering a reduction of air resistance in the new Volvo C30 DRIVe by more than 10 percent. This in turn leads to around 3 grams lower CO2 emissions per kilometer.

All textiles in all Volvo models Oeko-Tex certified to be allergy-friendly
Volvo Cars is the only manufacturer in the car industry with a complete model range featuring textiles that are so clean that they are certified according to the Oeko-Tex standard. The textile standard was introduced at the beginning of the 1990s by textile research institutes as a response to the needs of consumers and the general public for textiles which posed no risk to health. The Volvo XC60 has been added to the list of cars recommended by the Swedish Asthma and Allergy Association for its good interior air quality. Four Volvo models are now featured in the association's list of recommended cars.

Climate-neutral electricity at Volvo
Since 1 January, 2008, Volvo Cars manufacturing units in Europe use only green electricity, hydropower. This is in line with the company's support of the development of climate neutral electricity production, and the latest step in making European manufacturing units climate neutral.

SAFETY 

Safety being one of Volvo Cars' core values played an important role in 2008 when new innovative safety features were launched as well as announcing how Volvo aims to further strengthen our leadership in safety by striving towards zero accidents in the long term perspective.

Volvo Cars aims for zero accidents
At Volvo Car Corporation, the vision is to design cars that should not crash. In the shorter perspective the aim is that by 2020 no-one should be killed or injured in a Volvo. Continuous research and enhancement of safety in and around our cars is essential for achieving a safer driver environment and a collision-free future. In this aim Volvo Car Corporation cooperate with authorities and other parties in the automotive industry.

Volvo Cars and the Swedish National Road Administration in joint offensive against traffic accidents
Volvo Car Corporation and the Swedish National Road Administration will work together to avoid or lessen the effects of road accidents. The Swedish National Road Administration has worked on its Vision Zero approach since 1997, while Volvo Car Corporation presented a vision in 2007 with the aim to design cars that do not crash. Ensuring a safe traffic environment requires cooperation between three main sectors: car manufacturers, drivers and the authorities responsible for roads and related infrastructure.

City Safety standard in the new Volvo XC60
The new Volvo XC60 was launched with City Safety - Volvo Cars' in-house developed unique technology for avoiding low-speed collisions in city traffic and tailbacks. City Safety in combination with the recently introduced Collision Warning with Auto Brake means that Volvo Cars now offer functions for auto-braking at all speeds. Surveys indicate that 75 percent of all reported collisions take place at speeds of up to 30 km/h. In 50 percent of all rear end collisions the driver has not braked at all before the collision, mainly due to distraction. In these cases, City Safety could make a crucial difference. City Safety brakes the car automatically if the driver is about to drive into the vehicle in front. A collision can either thus be entirely avoided or if this is not possible, damage to cars and personal injuries can be reduced. City Safety is of considerable interest to insurance institutes, and insurance companies on many markets are cutting premiums by up to 30 percent for anyone who insures a Volvo XC60.

Volvo Cars launches new Alcoguard to help reduce the number of alcohol-related road accidents
Volvo Cars was the first car manufacturer to launch an innovative feature aimed at helping to reduce the number of road accidents caused by drink-driving. Alcoguard is a fully integrated in-car alco lock that utilises advanced fuel-cell technology, a solution that is both user-friendly and reliable. Alcoguard is a tool whose purpose is to help the driver make sober decisions. At present, one in every three traffic fatalities in Europe is alcohol-related. Our three biggest challenges for creating a safer traffic environment are speeding, insufficient safety belt use and drink-driving. The aim of the Alcoguard system is to help reduce the number of accidents caused by vehicles with a drunk driver at the wheel.

Volvo Cars receives highest rating for its unique whiplash protection
EuroNCAP has instituted a new assessment protocol for evaluating the degree of whiplash protection offered by passenger cars in rear-end collisions. The Volvo XC60 was one of the few models to receive the highest rating. For the first time, EuroNCAP is now conducting tests in order to rate the whiplash protection offered by cars. Twenty-five cars were tested in the initial round. The XC60, with Volvo's unique Whiplash Protection System (WHIPS), was one of five cars to receive the highest rating.

VOLVO OCEAN RACE 

The 2008-09 edition of the Volvo Ocean Race started in Alicante, Spain on 11 October 2008 and is scheduled to finish in St. Petersburg on 27 June 2009, following a 37,000 nautical mile lap of the planet. For the first time, the race is visiting Asia, with stopovers in Cochin, India, Singapore, and Qingdao, China.  

The Volvo Ocean Race is the ultimate mix of world class sporting competition and cutting-edge adventure, with a tradition dating back 35 years. Eight international teams of 10 sailors, plus one dedicated media crew member, are competing in 10 offshore legs, along with seven in-port races. Scoring points are accumulated through each stage of the race to determine the overall winner.  

For every race, there is a Volvo Ocean Race edition of cars. This year's edition is available for the Volvo XC90, Volvo XC70 and V70. These cars come in either Ocean Blue or Electric Silver, with interiors full of details that are inspired by the race and the nautical world. Sales of the Volvo Ocean Race edition cars are expected to reach 8,500 units.

SUSTAINABILITY

Please visit www.volvocars.com/intl/sustainability to find more about Volvo Cars' sustainability work.

STUDENT AND RECRUITMENT SERVICES

Volvo Car Corporation offers a variety of recruitment services around the world.