From Volvo press: The first series-manufactured car, an ÖV4 nicknamed ''Jakob'', left the factory on Hisingen in Gothenburg on April 14th, 1927. An epoch in Swedish industrial history had begun.
The ÖV4 was based on an American design and had a powerful chassis and live axles with long leaf springs at the front and rear. The four-cylinder engine developed 28 hp at 2000 rpm. Its top speed was 90 kph, but Volvo recommended a cruising speed of 60 kph.
The car had 20" artillery type wheels, with wooden spokes in their natural colour and detachable rims. The open 5-seater body had four doors and was covered in sheet steel on a frame of ash and copper beech. The upholstery was made of leather. The open version cost 4,800 Swedish kronor.
The covered version (PV4) cost 5,800 Swedish kronor when it was introduced. Sales were slow during the first year-a total of just 297 cars were sold. One of the reasons was the high quality level and the strict controls to which the suppliers were subjected.