When Did Ford Buy Volvo

Earlier this month volvo announced plans to buy a 13 percent stake in swedish truck and bus maker scania.

When did ford buy volvo. Maybe its because they stopped making cars like this. This is a figure slightly less than fords last year profits of. Jacoby intends to boost chinese sales from 47000 to 200000 per year with geely possibly manufacturing volvos there. Ford motor co the worlds most profitable carmaker has bought the automobile operations of swedish based volvo for 645 billion.

F today announced it has entered into a definitive agreement to sell volvo car corporation and related assets to zhejiang geely holding. In 1999 ford paid 65 billion for volvo. Ford paid 6 billion in 1999 to acquire volvo leaving the company with a substantial loss on its investment. For ford volvos upmarket models may provide the missing link the american heavyweight has been looking for in a european line up struggling to compete with feisty rivals such as peugeot volkswagen and fiat.

In the us volvo sold 67240 units in 11 up from just 21423 in 10. Ford meanwhile was interested in volvo for two reasons. We will sell 800000 by 2020 he says. Geelys plan includes using the swedish nameplate to produce luxury brands in china which surpassed the us.

They still make jet planes trucks and boat motors etc. Second there was a realization of their limits to the auto market. Ford paid 65 billion for volvo in 1999. Volvo was profitable and jacoby promises the brand will grow.

Dearborn mich 28 2010 ford motor company nyse. First volvo was and still is a diversified technology company. Ford has shifted its strategy to focus on its core brands and has already sold off other luxury brands including jaguar and land rover to the tata group of india for 23 billion a year ago.