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  • William Maley
    William Maley

    Volvo Scraps Plans For IPO

      The whole trade war between China and the U.S. is part of the reasons why

    Geely was planning to make Volvo a publicly traded company by the end of the year. Earlier in the year, the company hired financial advisors to see if it would be possible. But over the weekend, the Financial Times reported that Geely has scrapped those plans. 

    “We’ve come to the conclusion that the timing is not optimal for an IPO right now,” Volvo Chief Executive Hakan Samuelsson told Reuters.

    The on-going trade war between the U.S. and China, and concerns about something similar happening between the U.S. and Europe are listed as the main concerns. But a source revealed that Geely boss Li Shufu thought Volvo needed to make bigger endroads into China before going public.

    Sources tell Reuters that Geely was aiming to have Volvo's IPO valued between $16 and $30 billion. Some analysts questioned the $30 billion estimate.

    Volvo said a listing was possible in the future.

    Source: Financial Times, Reuters



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    Right now I would keep it private as there is future turmoil in the works for the global stock market. We are heading into a recession.

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    Best time for an IPO is usually long before a market downturn, at least one year.  One other thing: Geely may not take Volvo public for regulatory reasons too if they want to list in the US or Europe or Japan/Hong Kong/Singapore.

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    • By William Maley
      Rarely, do I get the chance to drive different versions of the same model. The fleet companies I work with scheduling vehicles do their best to serve up a smorgasbord of vehicles for me to experience. But from time to time, things happen where one vehicle in a run has to be swapped because it needs to go home or is required for an important event. It happened to be that the stars aligned in such a way that two Volvo 60 series models would be swapped for various vehicles in this go around. So I found myself with an S60 Momentum one week and a V60 Cross Country another week.
      A prime opportunity to experience two different takes on the same model.
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      Disclaimer: Volvo Provided the S60 and V60; Insurance, and One Tank of Gas
      Year: 2020
      Make: Volvo
      Model: S60
      Trim: T5 Momentum
      Engine: 2.0L Turbocharged DOHC Inline-Four
      Driveline: Eight-Speed Automatic, Front-Wheel Drive
      Horsepower @ RPM: 250 @ 5,500
      Torque @ RPM: 258 @ 1,500
      Fuel Economy: City/Highway/Combined - 23/34/27
      Curb Weight: 3,657 lbs
      Location of Manufacture: Ridgeville, SC 
      Base Price: $36,050
      As Tested Price: $46,249 (Includes $995.00 Destination Charge)
      Options:
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      Premium Package - $2,050.00
      Multimedia Package - $1,850.00
      19" 5-Spoke Cut Wheels - $800.00
      Heated Front Seats & Heated Steering Wheel Package - $750.00
      Pebble Grey Metallic - $645.00
      Linear Lime Deco Inlay and Interior High Level Illumination - $600.00
      Year: 2020
      Make: Volvo
      Model: V60
      Trim: Cross Country
      Engine: 2.0L Turbocharged DOHC Inline-Four
      Driveline: Eight-Speed Automatic, All-Wheel Drive
      Horsepower @ RPM: 250 @ 5,500
      Torque @ RPM: 258 @ 1,500
      Fuel Economy: City/Highway/Combined - 22/31/25
      Curb Weight: 4,202 lbs
      Location of Manufacture: Gothenburg, Sweden
      Base Price: $45,100
      As Tested Price: $56,990 (Includes $995.00 Destination Charge)
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      Cross Country Pro Package - $2,800.00
      Advanced Package - $2,500.00
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      View full article
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      Rarely, do I get the chance to drive different versions of the same model. The fleet companies I work with scheduling vehicles do their best to serve up a smorgasbord of vehicles for me to experience. But from time to time, things happen where one vehicle in a run has to be swapped because it needs to go home or is required for an important event. It happened to be that the stars aligned in such a way that two Volvo 60 series models would be swapped for various vehicles in this go around. So I found myself with an S60 Momentum one week and a V60 Cross Country another week.
      A prime opportunity to experience two different takes on the same model.
      Design: Same and Different
      Both of the 60 models continue Volvo’s design of simple elegance. The smooth boxy shape is contrasted by the “Thor’s Hammer” lighting element in the headlights and a sloping beltline along the side. Compared to the larger S90, the S60 looks cleaner. This can be attributed to the rear where the license plate has been moved from the bumper to the trunk and a raised lip on the trunk lid. The optional 19-inch wheels fitted on my tester look somewhat out of place as it removes some of the understated look the sedan is trying to present.
      The V60 Cross Country certainly looks the part of an off-road wagon with a three-inch lift to the suspension, body cladding along the side, different grille color, and new wheel choices. Around back, Volvo takes some ideas from their crossovers with the tailgate being similar in design to XC40 and XC60, and the tall L-shaped headlights. Out of the two, I found myself liking the V60 Cross Country more than the S60.
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      The simple elegance philosophy continues inside for both the S60 and V60. The dash features a simplistic design with clean lines and minimal brightwork. Both vehicles feature some surprising interior touches such as wood trim and machined metal pieces. The S60 does falter slightly as some interior pieces are hard plastics with some texturing. This is due to the S60 being the base Momentum trim, higher trims swap this for soft-touch material.
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      Non-Sensus-ical Infotainment
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      Apple CarPlay and Android Auto is standard and does make Sensus slightly easier to use. But I think some real improvements will come when the next version of Sensus comes out that will be based on Google’s Android platform. I’m also hoping for some more redundant controls such as a fan knob or temperature buttons.
      When Five equals Four
       
      Both models come equipped with the T5 engine. Before you start thinking that this means a turbocharged five-cylinder, T5 in current Volvos means a turbocharged four-cylinder engine producing 248 horsepower and 258 pound-feet. An eight-speed automatic is the only transmission choice. Opting for the T5 on the S60 means you only get front-wheel drive - you’ll need to step to the twin-charged T6 or PHEV T8 for all-wheel drive. As for the Cross Country, it gets all-wheel drive as standard. 
      The T5 is a very potent engine as I found in my review of the XC40 last year and that still holds true for both 60 series models. No matter the situation such as needing to pass a slower truck or leave a stoplight, the turbo-four is eager to move the vehicle at an astonishing rate. The eight-speed automatic is smooth and delivers prompt shifts.
      On the Cross Country, Volvo has an Off-Road mode that turns on a low-speed function, hill descent control, and optimizes the steering to keep the vehicle moving through whatever muck. For most buyers, this mode will never be touched at all. But I found it to be very handy driving through unplowed roads.
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      A Smooth Ride Is Here, Provided You Have the Right Wheels
       
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      The S60 and V60 Cross Country are excellent alternatives to the usual suspects, just be careful on the options.
      How I would configure them:
      There are two different ways I would go configuring an S60.
      Value: Start with the Momentum T5 at $36,050 and add Heated Front Seats & Steering Wheel ($750) and Premium Package ($2,050) to end up with a nicely equipped S60 at $39,845. You will miss out on some items such as the 360’ camera system, pilot assist, and Harman Kardon audio system, but that pushes the price to over $44,000. Sport: An R-Design T6 fits the bill here and comes with all-wheel drive as standard for a price of $48,045. Decide which metallic paint you would like ($645) or stick with the basic black. Add on the Advanced Package and Heated Rear Seats and Steering Wheel to end up with a final price tag of $51,645 for black or $52,290 for any of the metallic colors. For the V60 Cross Country, it would be similar to my test vehicle with most of the option packages and adding the Harman Kardon Premium Sound system ($800) to bring the final price to $52,795.
      Disclaimer: Volvo Provided the S60 and V60; Insurance, and One Tank of Gas
      Year: 2020
      Make: Volvo
      Model: S60
      Trim: T5 Momentum
      Engine: 2.0L Turbocharged DOHC Inline-Four
      Driveline: Eight-Speed Automatic, Front-Wheel Drive
      Horsepower @ RPM: 250 @ 5,500
      Torque @ RPM: 258 @ 1,500
      Fuel Economy: City/Highway/Combined - 23/34/27
      Curb Weight: 3,657 lbs
      Location of Manufacture: Ridgeville, SC 
      Base Price: $36,050
      As Tested Price: $46,249 (Includes $995.00 Destination Charge)
      Options:
      Advanced Package - $2,500.00
      Premium Package - $2,050.00
      Multimedia Package - $1,850.00
      19" 5-Spoke Cut Wheels - $800.00
      Heated Front Seats & Heated Steering Wheel Package - $750.00
      Pebble Grey Metallic - $645.00
      Linear Lime Deco Inlay and Interior High Level Illumination - $600.00
      Year: 2020
      Make: Volvo
      Model: V60
      Trim: Cross Country
      Engine: 2.0L Turbocharged DOHC Inline-Four
      Driveline: Eight-Speed Automatic, All-Wheel Drive
      Horsepower @ RPM: 250 @ 5,500
      Torque @ RPM: 258 @ 1,500
      Fuel Economy: City/Highway/Combined - 22/31/25
      Curb Weight: 4,202 lbs
      Location of Manufacture: Gothenburg, Sweden
      Base Price: $45,100
      As Tested Price: $56,990 (Includes $995.00 Destination Charge)
      Options:
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      Cross Country Pro Package - $2,800.00
      Advanced Package - $2,500.00
      Heated Front Seats & Heated Steering Wheel Package - $750.00
      Birch Light Metallic - $645.00
      Park Assist Pilot - $200.00
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      View full article
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      “Cash for clunkers was very effective at that time. It would be nice to think we could have something equally as effective for 2020 when we get out of this because it was a great program.”
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      When asked by Automotive News about this, Ford spokeswoman Rachel McCleery said, "The auto industry is America’s economic engine.We are encouraging Congress to look at a variety of ways to drive job creation, increase demand, support customers and provide long-term stability for the entire auto ecosystem."
      A brief refresher on the Cash for Clunkers program. In 2009, the U.S. Government introduced a billion initiative called the Car Allowance Rebate System, which gave a voucher worth between $2,900 and $4,500 to anyone replacing a vehicle newer than 1984. Their old vehicle would be taken away and disposed of. The program was nicknamed Cash for Clunkers.
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      Source: Detroit Free Press, The Detroit News, WXYZ

      View full article
  • Posts

    • I agree...I do like the V60 myself- maybe it’s just that it reminds me still of a wagon.....
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