Although potentially confusing to consumers, the "5" no longer refers to amount of cylinders, but refers to the amount of power produced. The S60 won't be powered by a turbocharged five-cylinder petrol, rather it will have a turbocharged four-cylinder petrol, still making 177kW and 320Nm.
It will be coupled with Volvo's six-speed dual-clutch transmission called Powershift, with the power put onto the road via the front wheels. Going from 0-100km/h in 7.5 seconds means it'll be quicker than the D5 but the T5 emits only a few grams more of CO2 per kilometre than its diesel sibling. Fuel consumption will be 8.3 litres/100km.
The Volvo S60 T5 will be priced from $51,950 when it hits showrooms this month.
In other news, lovers of V8 Volvos will also be saddened today with the announcement that the silky-smooth 4.4-litre V8 will be discontinued.
Speaking with CarAdvice today, Volvo Car Australia's spokesperson Laurissa Mirabelli explained that it is no longer clean enough.
"With Volvo moving toward more environmentally friendly engines with lower emissions, the 4.4-litre V8 doesn't meet Volvo's strict requirements for a powerful yet efficient engine. It's also only a few kilowatts less than the T6 engine, which is a lot cleaner," said Ms Mirabelli."We [Australia] loved it, and so did the US, but Europe won't have it anymore, so we're going where market demand takes us."