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The outgoing Volvo S60 was a pretty good car when it debuted, and there was an even higher point for that car when the wonderful S60R debuted a few years later. But you see, the problem with that is this issue that the debut of that car was a decade ago. Ten years, no real changes. To say it was due for a replacement is one heck of an understatement. This new car, which was officially announced this morning, can't arrive soon enough--the S60 has been out of production since August, and that's a problem when it represents what should be Volvo's best-selling segment.

At least we can say it was worth the wait. When the S60 arrives at US dealers late this year, it looks like it will be a serious competitor to BMW's 3-series and Audi's A4/S4 models. It comes packing a turbocharged six-cylinder like the one in the current XC60, only with the power boosted to 300 hp and torque bumped to 325 lb-ft. That makes it the most powerful Volvo T6 ever sold here. Unfortunately--for the time being at least--the sole engine will also be mated to a single transmission, and it's an automatic. This new second-generation six-speed Geartronic at least has updated valves and lower friction, so it should snap off quicker shifts. Official weights for the car haven't been announced, but we're predicting it is on the heavy side. While BMW's 300-hp 335i sedan runs from 0-60 mph in around five seconds, the S60's official time is a disappointing 6.2 seconds. Top speed is limited to 155 mph.

Other powertrain options should arrive later. Part of the press release packet was a set of Powershift dual-clutch transmission photos, which might be reserved for European diesel models, but could make it to the US in some application. We also expect a less powerful, more efficient S60 will make it here, and we've heard rumors that a direct-injection T6 is in the works and should produce even more horsepower. But please Volvo, just add a manual transmission.

The S60 will arrive featuring a good amount of new technology, including the City Safety system of the XC60. However, the S60 represents the next step beyond that, as it also has a new pedestrian safety system that recognizes people walking in the road and will prevent accidents under 20 mph or minimize injuries at higher speeds. The 2011 S60 is also one of the first cars in the world to use an audio system with Audyssey Lab's MultiEQ sound equalization technology. The premium sound system also features a digital 5x130W amp, Dolby Pro Logic II Surround, and a total of 12 speakers.

To help put the power down to the pavement efficiently, the S60 will launch with standard all-wheel drive featuring torque-vectoring managed through the traction control system. The inner driven wheel is braked through a corner, while the outside wheel gets more power. This minimizes understeer that has been characteristic of many Volvos in the past. Additionally, the S60 is Volvo's first sedan to get Advanced Stability Control with a roll angle sensor to sense skidding at an earlier moment and improve reaction times of the system.

Two chassis options will be offered with the S60 in Europe, but Volvo of North America has chosen to forgo the "comfort" chassis and focus just on the more dynamic version, which gets stiffer dampers and different subframes with stiffer bushings. In fact, the new S60 gets the most damping of any Volvo ever produced. Four-C active chassis control will be offered as an option.

There are undoubtedly more details to come about this car in the coming weeks and months, including exact launch dates and pricing. And as for the design, inside and out, have a look for yourselves in our extensive galleries. Those seats sure do look comfy, don't they?

For the full official press release from Volvo, check out Swedespeed.com

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