Volvo has announced a global cancellation of the C70 but senior executives say a replacement will come "as soon as possible."

Volvo has announced a global cancellation of the C70 but senior executives say a replacement will come "as soon as possible."

The news shouldn't come as a big surprise since Volvo revealed back in 2011 plans to cease production of the C70 this year due to poor sales. A successor will be out "as soon as possible" according to Volvo chief Hakan Samuelsson and will be based on the strikingly beautiful Concept Coupe shown last month at Frankfurt Motor Show.

However, Volvo has a lot on it plate right now as they are preparing to introduce the next generation of the XC90 which is being described by Samuelsson as the company's “crown jewel.” Following the SUV's launch, the Swedish marque will introduce replacements for the S80, V70, S60 and XC60. After these cars will hit the market we should see a successor for the C70 which despite its good looks remained an unpopular car.

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