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Volvo V40

The new Volvo V40 is set to be unveiled at next week's Geneva motor show. The manufacturer has sought to retain characteristics from the larger Volvo models but refine it with sharper features in a more compact form, while focusing on a number of key areas within the car. It's closest equivalent – in terms of format – is the Audi A3 Sportback thanks to its mix of hatchback and wagon characteristics.

Toyota recalls Corolla, Lexus IS models

On Wednesday, Toyota said it is recalling 752,000 Corolla and Corolla Matrix vehicles from the 2003 and 2004 model years, and about 270,000 Lexus IS vehicles built between 2006 and 2012. The Corolla and Corolla Matrix may be susceptible to an electrical short that could cause the frontal airbag and front seatbelt pre-tensioners to inadvertently deploy, according to Toyota. The Lexus IS faces a problem with windshield wipers that are not sufficiently secured and may not operate properly when weighted down by heavy snow.

Here's what the 2014 Volvo V60 wagon will cost

The Volvo V60 has been a moderate hit in Europe, and this month it's finally set to go on sale in the U.S. The five-door station wagon will offer one engine from the automaker's new Drive-E family of powerplants, gasoline engines that will use turbocharging and direction injection, in a package slightly smaller than the existing XC70 station wagon. All-wheel drive and front-wheel drive will both be on the menu, with the the base version of the V60 T5 front-wheel drive station wagon starting at $36,215.