Volvo just unleashed some tasty diesel news, even if it is Euro only. The company unveiled the culmination of three years worth of development – a new five-cylinder, turbocharged 2.4-liter diesel. The engine produce just 205 horsepower but a respectable 309 lb-ft of torque. Hands down, the most exciting part is the claimed 38 mpg. That’s good news for a company that has been cursed with less-than efficient rides for a while now. Sadly, there’s little hope of the new five-cylinder motor popping up here in the states. Instead, Volvo plans to keep it as a Europe-only engine to power its S80. [Source: Volvo]