Volvo announced today that it had registered a loss in the third quarter but as you would think is not because it didn’t sell enough cars, it’s because it spend too much money on new technology but also due to negative currency effects. As a result, Volvo reported an operating loss of 763 million kronor ($116 million) in the period few steps behind if we look at the 748 million kronor in earnings before interest and taxes a year ago.
However, the Swedish company is expected to report a positive result for the full year.
Still, Volvo reported an operating profit of 477 million kronor in the first nine months of the year. But, Volvo has even bigger plans as it aims to double its annual sales to 800,000 vehicles by 2020 and become a rival for luxury carmakers such as Bmw and Audi as well as for Mercedes-Benz.
"There are concerns about consumer confidence given the turbulence of financial markets. At the same time I'm very pleased about the positive sales developments and the strength of our brand, and the outlook for 2011 remains positive", says Stefan Jacoby, President & CEO.
Following its launch in 2003, the Volvo XC90 quickly made a name in the premium SUV market thanks to its contemporary design and dynamic engines, as well as its seven-seat capability -- with up to 64 seating configurations. Another feature that made waves is its Roll-Over Protection System (ROPS).
Built at Volvo's Torslanda manufacturing site in Gothenburg, Sweden, the Volvo XC90 comes with elegant exterior styling and a more luxurious interior – as complemented by its increased refinement and performance. Two high-performance engines are offered for the Volvo XC90: a 3.2-liter petrol engine that provides 243 PS and the D5 diesel engine that develops up to 185 PS.
Both engines deliver reasonable power and torque from low engine speeds until the mid-range. Customers could choose from highly specified five trim levels: Active, SE (D5 only), SE Lux, R-Design and Executive. Interestingly, the D5 Geartronic engine that powers the XC90 was re-homologated in 2008, which drastically reduced its carbon dioxide emissions level from 239g/km to 224g/km.
These changes placed both the D5 manual and Geartronic to just below the key threshold for Vehicle Excise Duty. In addition, the interior of the Volvo XC90 is equipped with Electronic Climate Control (ECC) with automatic Air Quality System (AQS).
In particular, the Volvo XC90 comes with AWD (All Wheel Drive) with Instant Traction, which features an electronic Haldex coupling system that could optimize traction between front and rear axles. This means that while the Volvo XC90 boasts of off-road abilities, it remains as easy and as responsive to drive as any Volvo saloon or estate.