Volvo Car pulls the cover back on its new V50 sportwagon at the Bologna Motor Show. The V50 joins the new S40 sedan in Volvo’s lineup, replacing the V40 wagon that bowed in late 1995 and has been on sale in the U.S. since 1999. Volvo expects to sell 74,000 V50s annually worldwide. Like the S40, which was unveiled earlier this year at the Frankfurt auto show, the V50 shares mechanicals with the new Mazda3, Ford C-Max and upcoming European Focus. It will go on sale in the U.S. ...

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