Volvo to Cut Down its U.S. Lineup, V50 Among the First to go

With its U.S. sales steadily declining for 7 years now, Volvo has no choice but to radically rethink its strategy. The Swedish automaker is currently offering nine models in the States or about as many as Volkswagen does, but it sold almost five times fewer cars than the Germans in 2010.

Consequently, the Swedish brand, which is now owned by China's Geely, has decided to significantly reduce the number of models in its North American lineup and concentrate on best-selling vehicles in an effort to increase sales.