The all-new 2011 Volvo S60 sport sedan will start at $38,550 including the $850 destination charges. VCNA President and CEO Doug Speck says "When you consider you can own an extremely well-equipped 2011 Volvo S60 for only $41,400, and that you will pay nothing to repair or maintain the all-new S60 for 5 years or 60,000 miles, it really becomes a no-brainer."
The all-new Volvo S60 sport sedan comes standard with a new infotainment system which includes a 7-inch high-definition color monitor accessed through steering-wheel mounted controls. Information regarding the audio system, in-dash DVD video player, climate and vehicle settings are monitored and controlled through a thumb-activated rotator. Other standard features include a six-speed Geartronic transmission, 18-inch alloy wheels, a sport-tuned Dynamic chassis, speed sensitive steering with driver-selectable settings, Bluetooth, HD Radio and Sirius Satellite Radio with a complimentary six-month subscription. The all-new Volvo S60 comes standard with City Safety, an auto braking system which is active from 2 - 18 mph and automatically stops the S60 if the car in front unexpectedly stops.
Volvo will also offer Pedestrian Detection with Full Auto Brake in which radar- and camera-based system can detect pedestrians in front of the car, warn the driver if anyone walks out into its path - and then automatically activate the S60's full braking power if the driver fails to respond in time.
The all-new 2011 Volvo S60 sport sedan goes on sale in late 2010 around the time when Geely of China completes its purchase of Sweden-based Volvo Car Corporation.
Two Swedish car companies now have had their fate sealed, with ownership transferring from U.S. companies. General Motors recently sold Saab to Dutch company Spyker and today, after a long drawn out ordeal, the much anticipated Ford sale of Volvo to Chinese company Zhejiang Geely Holding Group Company Limited is vitually done after a definitive agreement was signed.
The purchase price for Volvo Cars and related assets (primarily intellectual property) is $1.8 billion (U.S.), which will be paid in the form of a note in the amount of $200 million (U.S.), and the remainder in cash. The cash portion of the purchase price will be adjusted at close for customary purchase price adjustments relating to pension deficits, debt, cash and working capital, the net effect of which could be a significant decrease in the cash proceeds to Ford. The sale is expected to close in the third quarter of 2010, and is subject to customary closing conditions, including receipt of applicable regulatory approvals.
Ford will continue to cooperate with Volvo Cars in several areas after the sale has been completed in order to ensure a smooth transition, but will not retain any ownership in the Volvo Cars business. Following completion of the sale, Ford will continue to supply Volvo Cars with, for differing periods, powertrains, stampings and other vehicle components. As part of the sale, Ford also has committed to provide engineering support, information technology, access to tooling for common components, and other selected services for a transition period to ensure a smooth separation process.
Stephen Odell, CEO of Volvo Cars, added, “The Volvo management team fully endorses Ford’s sale of Volvo Cars to Geely. We believe this is the right outcome for the business, and will provide Volvo Cars with the necessary resources, including the capital investment, to strengthen the business and to continue to move it forward in the future.
