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Initially, Ford achieved only a tepid market with its D3 vehicles, though after the PAG group divested itself of Volvo, the Fifth Generation Explorer enjoyed broad market success. Geely was reported to have approached Ford in mid-2008 about a possible takeover of Volvo Cars. On 28 October 2009, Ford named Geely the preferred buyer of Volvo Cars.
Ford Motor (F) announced Monday that it has completed the sale of Volvo, its Swedish unit, to China's Zhejiang Geely Holding Group. Geely put up $1.3 billion cash for Volvo and issued a note worth ...
When the global economic crisis of 2008 threatened the US automakers, Swedish authorities became concerned about the fate of Volvo, should Ford file for bankruptcy. These concerns mounted after repeated mass-layoffs at Volvo. In December 2008, Ford announced that it was considering selling Volvo Cars.
Ford acquired the British sports car maker Aston Martin in 1989, later selling it on March 12, 2007, [172] although retaining an 8% stake. [173] [174] Ford purchased Volvo Cars of Sweden in 1999, [175] selling it to Zhejiang Geely Holding Group in 2010.
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Ford (NYSE:F) has been shopping its Volvo unit for months. Some Wall Street analysts thought the American car maker needed the money. Now that Ford's sales in the U.S. are improving, that may not ...
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