Volvo XC90 volume for '02 sold out

Volvo Car Corp. says initial response to its new XC90 SUV has been overwhelming. The company says it has enough pre-orders for the new model — which goes on sale in North America in October — to absorb the 6,600 initial units the auto maker has allocated for the U.S. and Canadian markets. Volvo expects to sell 6,000 XC90s in the U.S. and 600 in Canada during the months of November and December. Targets for calendar 2003 are 50,000 units globally, with 70% of XC90's volume (35,000 units) slated for the U.S. market. While pricing has not been finalized, Volvo executives say they expect the XC90 to be “under $40,000 very well-equipped.” Volvo has high expectations for its new SUV. The company expects the XC90 to propel overall sales volumes to more than 500,000 units for 2003.