Despite surging crossover demand.
When it comes to embracing the crossover and SUV segments, Volvo has been one of the driving forces in the European scene. What started with the premium Volvo XC90, very quickly expanded to a series of high-riding products throughout different segments. Despite the popularity of its selection, the Swedish brand wants to assure its passionate customers that the sedan and estate body styles will always have a place in its stable.
Speaking to Autocar, CEO Håkan Samuelsson says that, with the Swedish company's imminent new line-up, the V and S Series models will likely be discontinued due to low sales volumes but suitable replacements will be incorporated into its future range. Within the first three quarters of 2021, the Volvo XC60 SUV outsold the S60, V60, S90, and V90 combined, across the global market.
Samuelsson, who is soon to be replaced by Jim Rowen in the coming months, states: "Yes, the [S and V] lines will be replaced with something even more attractive to consumers. We need lower cars with a more conventional body size but maybe a little less square [than previously]. These low cars will be in addition to our high-positioned SUVs. Stay tuned."
In an earlier set of statements, Samuelsson clarified that Volvo was set on increasing its SUV offerings and cutting back on traditional shapes. The V and S badges may not form part of the brand's future plans but spiritual successors will be incorporated with new model names rather than alphanumerical designations.
Furthermore, when asked whether coupe products such as the C40 Recharge will be more prevalent in its product offerings, he adds that the brand will also be somewhat adjusting the silhouette of some of its existing products with future generations.
He says: "Cars will be less boxy in future, when we need to have lower air resistance. You could call it coupe-ish. We talk a lot about range in electric cars, but I think we will start looking at energy efficiency, and of course air resistance will be very central to that."
This slight realignment of products forms part of the brand's aggressive EV transition strategy, which will see Volvo increase its electric car production capacity from the current 15,000 annual unit figure to 150,000 units by 2025. At the same time, it hopes that 50 percent of its total sales will be electrified cars. Volvo's chief financial officer, Bjorn Annwall, adds: "You need customers who want EVs, and we're fully confident ours do. You need great cars, which we have."