In fact, with SUVs accounting for about 60 per cent of Volvo's Australian volumes right now, it's arguable that the company that was once known as the station-wagon brand, is now more accurately referred to as an SUV brand. And while the XC70 and its ilk are on the ascendency, Volvo's former staples are endangered species.
While Volvo Australia will this year retail only about 100 V70 wagons, it reckons the new XC70 has the potential for about 600 to 700 sales each year. CarPoint believes some Volvo dealers have already canvassed the idea of dropping the conventional, two-wheel-drive V70 wagon from the Aussie range.
Obviously, the global trend towards sports utility vehicles is driving the phenomenon, but Volvo itself is fanning the flames.
While the new XC70 cost $69,950, the V70 station wagon is just a few thousand dollars shy of that and misses out on equipment such as the standard premium sound system, electric sunroof and, of course, all-wheel-drive.
So what do you buy for your 70-grand? At 1562mm from the ground to the standard aluminium roof rails and tipping the scales at 1655kg, the Volvo is about 16cm lower (and therefore easier to load) than something like the Lexus RX330, and more than 400kg lighter than BMW's three-litre X5.
Power comes from Volvo's well regarded 2.5-litre five-cylinder engine which uses the low-pressure turbocharger and is also used in the company's S80 and XC90 models. It produces 154kW at 5000rpm and 320Nm of torque anywhere between 1500 and 4500rpm, suggesting that it's a grunter rather than a revver. That's the reality, too, and the Volvo feels lively enough when you're in a hurry and flexible when you need it. The only real clue that the engine is a five-cylinder comes in the form of some muted harmonics at various points in the rev range.
Transmission is limited to a five-speed automatic, but it shifts cleanly and suits the rest of the vehicle well. The all-wheel-drive system uses a Haldex clutch which more or less makes it an on-demand four-wheel-drive.
In normal running on dry bitumen, as much as 95 per cent of torque is channelled to the front wheels, with the rear wheels only really chiming in when the front tyres start to lose grip.
Suspension is a good combination of firm, but passable ride and a small amount of body roll which is probably due to the higher ride height than any lack of wheel control.
Volvo's vaunted safety record is upheld in the XC70 by three-point seat-belts on all five seats, ABS brakes with Electronic Brake-force Distribution and Emergency Brake Assist, traction control, dual-stage front air-bags, side-bags, chest-bags and side-curtain bags.
Interestingly, given Volvo's reputation, while the electric sunroof is standard, Dynamic Stability and Traction Control is not (it's a $2100 option and can be teamed with active damper control for another $3950).
But creature comforts abound with leather trim, dual-zone climate-control, electric driver's seat, integrated child booster seats, bi-Xenon headlights, electric everything, cruise control, wooden steering wheel and a very good quality, 11-speaker stereo system.
Throw in the butch styling touches like the front and rear skid plates, big alloy wheels and the overall stance, and the XC70 could easily spell the death of the car we all thought was immortal: the Volvo station-wagon.