Volvo revealed its 2011 V60 wagon, which replaced the V70, earlier this year before it makes its public debut at the Paris Motor Show. The wagon entered production today and is part of Volvo's plan to compete against Audi, BMW, and Mercedes-Benz.
Wagons have proven unpopular in the U.S., but there is still a large market for them in Europe, which is where Volvo estimates 90 percent of its V60 wagons will end up. The redesigned V60, along with the new S60, is part of Volvo's plan to boost European sales and compete more directly with the likes of Audi, BMW, and Mercedes-Benz.
"This will be one of our very most important cars for the European market," Tomas Ahlborg, head of V60 development, told Bloomberg.
Volvo's sales targets clearly indicate that as it aims to sell some 40,000 V60s in Europe per year and 50,000 around the world. This would make it Volvo's second-highest volume vehicle behind the XC60 sport-utility vehicle. Volvo has sold 30,000 XC60s in Europe and 48,000 globally through the first seven months of the year.
Although the V60 will help increase Volvo's sales in Europe, Volvo is relying heavily on the 2011 S60 sedan to increase sales in the U.S., as the V60 is not planned for sale here. The overall goal is to boost sales to 400,000 units this year compared to 334,800 in 2009. This is part of Geely's, Volvo's new owner, plan to bring Volvo back to profitability.
The new 2011 Volvo V60 just entered production today ahead of its world debut at the Paris Motor Show in September. Sales will begin later this year.