Volvo is on the cusp of expanding its customer base while maintaining brand loyalty with rumors of a new Escalade-sized SUV and the return of station wagons. According to Volvo executives in conversations with Automotive News and The Drive, the Swedish automaker's new leadership under CEO Håkan Samuelsson appears to be influencing product cycles.
Former CEO Jim Rowan had previously dismissed the idea of station wagons, but the company is now reevaluating its strategy. Volvo's chief strategy and product officer Michael Fleiss stated that station wagons offer a great deal of drag efficiency compared to SUVs and believe there is still a market for them domestically.
The Swedish automaker is currently ramping down production of its V60 and V90, paving the way for new wagon nameplates in the future. S.
and Chinese markets, citing full-size SUV sales that surged last year. Volvo wants a piece of the market pie, but executives are tempered in their commitment.
A stretched version of the XC90, internally known as the XC100, was initially shown off to retailers in 2020. The future of Volvo is perhaps more exciting than ever with new developments on the horizon, including a next-generation plug-in hybrid vehicle set to arrive in 2028.
As the automotive industry continues to shift towards electric vehicles, it's essential for brands like Volvo to adapt their strategies while maintaining their core values. With a renewed focus on station wagons and three-row SUVs, Volvo is poised to capitalize on growing demand in key markets.
