The Volvo 300 Series is a rear-wheel-drive small family car sold from 1976 to 1991, both as a hatchback and (from 1984) as a conventional notchback saloon. It was launched in the Netherlands shortly after Volvo acquired a major stake in the passenger car division of DAF in 1973. The series consisted of the Volvo 340 (previously 343/345) and the later Volvo 360. Origins After building a series of compact cars, DAF sought a partner to bring its new larger model, codenamed P900, and intended to become the DAF 77, to market in 1970. Several manufacturers were approached, including Audi, BMW, and Volvo. Volvo was not originally interested due to the cost, but they were later persuaded by DAF's access to Renault engines. This helped Volvo expand its model line-up without the large expenditures associated with developing a new model. Building cars in the Netherlands also helped the Swedish Volvo to access the markets of the EEC, of which Sweden was then not yet a member. Volvo purchased a one-third share in DAF in 1973, increasing to a three-quarters stake in 1975; the DAF company's name was changed to Volvo Car BV that year. Free of its passenger car division, DAF's commercial vehicle division, DAF Trucks, still operates today, owned by Paccar since 1996. Design DAF had begun the development of this car in 1970 as Project P900, meant as a replacement for the DAF 66 and due to launch in 1975, probably as DAF 77. In 1971 four designs were presented anonymously to DAF employees, one by Bertone, one by Michelotti and two by DAF in-house designers. The design by DAF's designer John de Vries (who would later win a similar contest for the Volvo 480 design) was chosen. In 1972 Volvo bought a stake in DAF, followed by a takeover in 1975, and the design was gradually adapted to Volvo's own standards, though there were a lot of quality concerns. The 300 series was unusual in having the gearbox mounted to the De Dion tube rear axle as a transaxle, with the 2 L models having the driveshaft enclosed in a "torque tube". The rear-mounted gearbox helped with weight distribution, but resulted in an unusually large transmission tunnel, especially by comparison with the contemporary front-wheel drive competitors such as the Mk. III Ford Escort and the Opel Kadett E/Mk. II Vauxhall Astra. Overall, the 300 series was considered