VOLVO CAR CORPORATION 2010

VOLVO CAR CORPORATION 2010

• New owner: Zhejiang Geely Group Holding Co. Ltd
• All-new Volvo S60 and V60 unveiled
• Global sales totalled 373,525 cars, an increase of 11.6 percent over 2009
• Stefan Jacoby appointed President and CEO
• New board of directors named
• New five-cylinder two-litre diesel engine

For Volvo Car Corporation, 2010 was a year of changes. The negotiations between Ford Motor Company and Zhejiang Geely Holding Group continued and on March 28 a stock purchase agreement for Volvo Car Corporation was signed. On August 2, Zhejiang Geely Holding Group completed the acquisition of 100 percent of Volvo Car Corporation from Ford Motor Company.

Li Shufu became chairman of the board on July 15. A few weeks later Stefan Jacoby was appointed the new President and CEO of Volvo Cars and a new board of directors was presented.

After two difficult years Volvo Car Corporation reversed the negative trend and increased sales by 11.6 percent compared to 2009.

The all-new Volvo S60 and V60 received a warm welcome with great reviews in the media, securing several international awards.

Volvo Car Corporation returned to profit in the first quarter of 2010 and kept up the momentum throughout the year.

PRODUCT NEWS

Sculpted to move you - the all-new Volvo S60
The all-new Volvo S60 was introduced to the public at the Geneva Motor Show in early March. It is sportier and more dynamic than any previous Volvo and features a groundbreaking technological solution known as Pedestrian Detection with full auto brake.

Chassis development driven to its pinnacle in the Volvo V60
Volvo Cars' chassis experts chiselled out the driving experience of the new Volvo V60 with the same passion that characterised the development of the all-new S60 sedan. The result is an authentic sports wagon with driving properties that do the sporty lines full justice.

Volvo V60 plug-in hybrid
At the 2010 Paris Motor Show, Stefan Jacoby confirmed plans for the company's launch of a plug-in hybrid in 2012 and noted that the foundation for the hybrid would be the V60 model.
The V60 plug-in hybrid will have carbon dioxide (CO₂) emissions of just 49 g/km and the car will be equipped with a battery that can be recharged in between 4-6 hours and provide up to 50 kilometres in pure electric range.

Even sportier with R-design
The all-new S60 and V60 R-Design are designed with true sports-car feel and feature a specially developed chassis to ensure that the driving experience matches the car's appearance. The models were introduced at the Paris Motor Show.
 
Reduced fuel consumption with new diesel engine
With the all-new Volvo S60 the newly developed five-cylinder two-litre diesel engine, producing 163 hp and 400 Nm of torque, was introduced. The new diesel engine is in principle the same engine as the present 2.4D, but cylinder capacity has been reduced with a shorter stroke to optimise fuel consumption. With a manual gearbox, fuel consumption (EU Combined, preliminary figure) is down to 54.3 miles per gallon.
The five-cylinder two-litre diesel engine became available throughout Volvo Cars' model range - along with upgraded six-cylinder petrol engines.
In addition, the new four-cylinder direct-injection 1.6- and 2-litre GTDi engines began to make their entry throughout the entire Volvo Cars model range.

All-new infotainment system
An entirely new infotainment system where information from the audio system, navigation unit, mobile phone and other functions is presented in a five-inch or seven-inch colour screen in the upper part of the centre console was introduced with the all-new Volvo S60 and V60.

SALES
Volvo Car Corporation ended 2010 with global sales up by 11.6 percent over 2009 figures, at a total of 373,525 cars. In China sales increased by 36.2 percent and in Nordic Europe by 29 percent. The important US market continued a downward trend and Volvo Cars sold 7,474 fewer cars there than in 2009, a decrease of 12.2 percent. Outstanding markets included Russia, with an increase of 54.5 percent compared to 2009, Belgium (+35.9) and Norway (+38.9).

Sales figures for the past ten years, no. of cars

* As of 2002, sales are defined as cars delivered to end-customers.

Sales by model total, no. of cars

PRODUCTION
Due to increased production Volvo Cars needed to recruit about 500 people to the plants in Torslanda, Sweden, and Ghent, Belgium. Some people on temporary contracts were offered permanent positions and some staff were appointed on a temporary basis.  

Car production by model and plant 2010, no. of cars

(Production 2009: 311,413 cars) 

CORPORATE UPDATE
Li Shufu became chairman of the board of Volvo Car Corporation on July 15. On August 2, Stefan Jacoby was named President and CEO of Volvo Car Corporation and a new board was unveiled. On the same day the very first board meeting was held with the new board. Among the new directors is Hans-Olov Olsson, former President and CEO of Volvo Car Corporation.
On November 8 Volvo Cars and Zhejiang Geely Holding Group created a committee for dialogue and cooperation.

SAFETY
Volvo Car Corporation continued their long tradition of research and enhancement of safety in and around cars to achieve a safer driver environment and a collision-free future.

- The new safety system Pedestrian Detection with full autobrake was introduced in the all-new Volvo S60 and V60 and also became available in Volvo XC60. The unique system that prevents collisions with pedestrians or, at higher speeds, reduces the consequences of an accident, got a number of prestigious awards.

- Together with several partners Volvo Car Corporation participates in the ongoing road train project SARTRE - Safety Road Trains for the Environment. At the end of 2010 the first development tests of a single lead and following vehicle was carried out successfully.

ENVIRONMENT

- DRIVe Towards Zero is Volvo Cars' vision for developing cars entirely free from harmful exhaust emissions and environment-impacting carbon dioxide. New steps are being continuously taken to reach that vision, including the introduction of high-efficiency diesel models with very low CO₂ emissions, the company's ambitious electrification strategy including a test fleet of C30 Electric, and market introduction of plug-in hybrids as early as 2012.

- Volvo Car Corporation's work on electrification technology includes a systematic approach to safety issues related to battery power.

- Launch of the "One Tonne Life" project where together with other partners, Volvo Cars has helped create a climate-smart household.

HERITAGE

- The Volvo Cars Body Components factory in Olofström celebrated 275 years on September 24.

- The Volvo Car Corporation's Accident Research Team have documented and analysed traffic accidents involving Volvo cars for 40 years.

- Volvo Cars' crash-test laboratory in Torslanda turned 10 this year. The almost 3,000 full-scale tests that have been carried out during the high-tech facility's first decade have helped give Volvo owners even safer cars.

- Volvo Cars' emergency assistance system, Volvo On Call, the first GPS-based communication system that permitted round-the-clock contact with an operator in an emergency situation, celebrated ten years.

SPONSORSHIP

- Volvo Cars was the official car at the 2010 Swedish Royal wedding in June.

- The Volvo XC60 received a lot of attention. It was one of the cars driven by Edward Cullen, a main character in the highly popular "Twilight" movie series when the second film, "Eclipse", had its premiere.

Racing

- Volvo Polestar and driver Robert Dahlgren won both the Scandinavian Touring Car Cup and the 2010 STCC Team Championship title with their ethanol-powered Volvo C30 DRIVe racing car.

- Volvo Cars entered a racing version of the all-new Volvo S60 in the Belgian Touring Car Series.

AWARDS - A SELECTION

Safety

- Volvo XC60 with City Safety received Euro NCAP Advance, an assessment rating for new and exceptional safety technology that was awarded for the first time ever at the Paris Motor Show.

- Volvo Car Corporation was awarded the Safest Car Manufacturer 2010 by the Eastern European Automotive Organisation, Autobest

Models

- In the 2010 Initial Quality Study (IQS) released on June 17, J.D. Power and Associates named the Volvo C70 the top compact premium sporty car and ranked the Volvo nameplate as number 10 among automakers. The leading research company's 2010 Initial Quality Study also named three Volvo models - S80, XC70 and XC60 - among the top three in their respective classes

- Five stars for the Volvo V70 DRIVe in the German ADAC ECO-test

- The all-new Volvo S60 received the German Plus X award

- The Volvo S80 and XC60 were ranked the safest in the ABC News (US) survey

- The Volvo XC60 is the best fleet car in the SUV category according to Britain's Fleet World Honours list

- The Volvo S60 and V60 were among the seven finalists in the Car of The Year 2011 competition in Europe

- The Volvo S60/V60 was selected Car of The Year in Norway

Engines

- Volvo Cars won the 10 Best Engines award (US)

Communication

- Volvo Cars was awarded Best Use of Broadcast Media by CorpComms (UK)