Volvo sold to Geely

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d3k4y0
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Volvo sold to Geely

Post by d3k4y0 » 09 May 2010 09:00 am

Don't know if everyone has already seen this, but it caught my eye and I was surprised to see it not being discussed here...
The Chinese car maker Geely has signed a deal to buy Volvo from US car giant Ford for $1.8bn (£1.2bn).

Ford hopes that the sale of Volvo will help it pay off its debts and focus on its core brands, following a dire period for the global car industry.
The deal represents a loss for Ford, however, having bought Volvo in 1999 for $6.5bn.
Geely, China's biggest independent car maker, has pledged to keep Volvo as a separate company with its headquarters remaining in Sweden.
However, significant manufacturing is expected to take place in China, making Volvos for Chinese consumers.
Analysts view the deal as a good one for Volvo, which has struggled to grow sales and has not made a profit since 2005.
http://news.bbc.co.uk/1/hi/business/8591677.stm
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sven360
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Re: Volvo sold to Geely

Post by sven360 » 09 May 2010 01:14 pm

Think it's been mentioned previously.

Apparently,according to industry insiders,they will be made predominately of brittle plastic and available free with a Large Maccy meal.

Doesn't sound too promising to me,I'm afraid. :?
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trabitom99
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Re: Volvo sold to Geely

Post by trabitom99 » 09 May 2010 02:21 pm

Yeah, we've talked about it in the past:
http://www.volvo300mania.com/forum-uk/v ... f=2&t=9029

Damn' shame if you ask me, some say it's good for Volvo, but I imagine the Chinese are just after patents & technology. But we'll see ...

Tom
343 GL Touring B14.1E CVT (155) 98000kms 1980 (sold)
343 L Junior B14.3E MT4 (155) 229000kms 1981 (scrapped)
343 DLS B19A MT4 (155) 167900kms 1982
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SteveP
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Re: Volvo sold to Geely

Post by SteveP » 09 May 2010 02:46 pm

I don't see it really matters... I doubt I'll buy any Volvo they've produced in the last 6 years anyway.

Ford ownership certainly did them no favours... apart from Ford pilfering 5 pot engines for use in the Focus ST/RS, all Volvo got were some average diesel engines and dulled down Ford chassis platforms. As far as I've heard even the C30 T5 is dull to drive given it's power and too quiet... why!
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