BEIJING - Ford Motor Co.'s Volvo Car division will sell its new S60 sedans in China this year, the China News Agency reported, citing unidentified officials at Volvo's China office.
The front-wheel-drive S60 has a 2.3-liter engine and gets 28 mpg on the highway. The sedans will be introduced in China on April 26 and will be priced between 600,000 yuan (about $72,493 at current exchange rates) and 700,000 yuan ($84,576), an official said.
China cut its average customers tariff rate to 15.3 percent, from 16.4 percent, on Jan. 1. The average customs tariff rate for vehicles now is 24 percent.
Ford, the world's second-largest automaker, bought Volvo AB's car unit in January 1999.