The Volvo S90 luxury sedan is ready to compete with Audi and Mercedes

Volvo is on a roll. The Swedish automaker just had its best month in the company's 88-year history with nearly 50,000 cars sold worldwide in November. Business was particularly good in the US, where sales jumped more than 90% on the back of the successful introduction of the company's XC90 luxury SUV.

Today, Volvo unveiled its new flagship sedan - the S90. The company's new large luxury sedan will be the second model - after the XC90 - to be built on Volvo's flexible Scalable Product Architecture platform. It's also the latest product to emerge from an $11-billion research and development investment made by Volvo's parent company Geely Group.

"With $11 USD billion of investment over the past five years we have not only reimagined what Volvo Cars can be - we are now delivering on our promise of a resurgent and relevant Volvo Cars brand," Volvo Cars president & CEO Håkan Samuelsson said in a statement.

"With the launch of the XC90 we made a clear statement of intent. We are now clearly and firmly in the game."

Although Volvo hasn't always fashioned itself as a luxury brand, the company has generally always offered a large executive sedan for its loyal legions of customers. The brand's current luxury flagship - the S80- has been on the market for a decade and is ready for retirement.