New CEO to rework Volvo lineup

Volvo's new CEO Stefan Jacoby is planning the automaker's future after Ford ownership as it plans to rework its portfolio in advance of vehicle refreshes. Not only is Volvo planning to drop several models, it may add two small vehicles to help it better compete with luxury marques like BMW. 

Main points:

No more wagons in North America

S40 being removed from NA lineup - presumably will remain elsewhere

Small CUV/crossover to compete with BMW X1

S80/XC90 to share platform

Source: http://rumors.automobilemag.com/6714909/news/new-ceo-looks-to-rework-volvos-lineup-may-add-two-small-vehicles/index.html