In 1972, Volvo purchased one-third of DAF Car BV in the Netherlands and thus established itself in the small-car segment where it had not previously been represented. In the mid-1970s, additional holdings in DAF Car BV were purchased and the company was re-organized to create Volvo Car BV.
The first car from Volvo Car BV to bear the Volvo name was the Volvo 66. This was a development of the previous DAF 66 model.
The Volvo 66 was available in two versions, a 2-door sedan and a 3-door wagon. These cars had rear-wheel drive and an automatic gearbox in the form of continuously variable transmission, CVT.