The Volvo C70, a four-seater, is the first of more coupe/convertibles that will come from other manufacturers. The sleek steel top retracts into the trunk in 30 seconds. The C70 is based on the S40 sedan, but has a wider track and more luscious lines.

The engine, suspension and transmission are proven Volvo components, while the chassis has been fortified and re-figured to increase rigidity over the former C70, and meet Volvo's industry-leading safety standards.

We found the C70 to be an excellent highway cruiser, smooth and steady at high speeds, quiet with the steel top up. Its stereo sounds superb. The C70 feels like a sports car. It has a solid feel and strikes an appropriate balance of responsive handling with a smooth, well-controlled ride quality and fade-resistant brakes. We liked it best with the six-speed manual, but the five-speed automatic is crisp and responsive.

The styling is brilliant, with elegant coupe lines, and the retractable hardtop is an engineering masterpiece. The cabin features comfortable seats, the latest in Volvo interior styling and fabrics, and a clever cubby behind the center dash.

Everything works as it should, and it's a beautiful piece of work. Nothing else on the market offers what the C70 does, priced under $40,000.