Although he acknowledges that SUVs take the lion’s share of Volvo’s sales, CEO Håkan Samuelsson said the company will not abandon the S (sedan) and V (wagon) model lines. This means that there will be a replacement for the current S60 / V60 and S90 / V90, likely in fully electric form.
Specifically, Samuelsson told Autocar that the models “will be replaced with something even more appealing to consumers.” The outgoing CEO, soon to be replaced by former Dyson boss Jim Rowan, believes Volvo needs “lower cars with more conventional body size” alongside their high-end SUVs, adding that the next generation sedans / station wagons could be “a little less square” for improved aerodynamics.
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Håkan Samuelsson’s recent comments are different from those of last year, when the CEO hinted at the possibility of dropping at least some sedans and station wagons in the Volvo lineup in favor of more SUVs. While Volvo’s renewed confidence in more traditional body styles is good news for fans around the world, that doesn’t necessarily mean the automaker will keep both the 60 and 90 series in the future.
Volvo also announced that it will introduce a new naming strategy for its entire lineup, replacing alphanumeric designations of models with actual names. This means that the characters S, V, and XC will soon be gone, signaling a new era for the brand.
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SUV models, including the C40 Recharge, XC40, XC60 and XC90, currently account for 75% of Volvo’s sales. To get a feel for it, the XC60, which is currently the best-selling Volvo, sold more units between January and November 2021 than the S60, V60, S90 and V90 combined. Against this backdrop, the Swedish company owned by Geely will soon be expanding its SUV lineup with a much-rumored smaller model while gearing up the successor to the flagship XC90 for 2023.
Volvo is committed to becoming an all-electric brand by 2030, phasing out all ICE-powered models, including hybrids. The automaker plans to increase its annual EV production capacity from 15,000 to 150,000 by next fall, on track to hit the 50% EV sales milestone by 2025.