In March of 2010, the Ford Motor Firm reached an agreement with a Chinese Business to sell the Volvo brand. Ford bought Volvo Cars from Volvo AB back in 1999. Volvo AB shares the brand title with Ford and creates hefty Cars below the brand identify.
When Ford obtained the Organization in 1999 they paid a complete of $six billion, but the sale Volvo Cars to the Zhejiang Geely Holding Group will only get them a complete of $1.eight billion. Ford has been divesting itself of numerous car brand names recently as the Firm implements a new technique exactly where it starts to target a lot more on the Organization’s core brand names.
The new Chinese proprietor of the Volvo brand is anticipated to construct a factory for the Firm in China. With the ever escalating automotive product sales in China, a Chinese owned Volvo could obtain a considerable sum of income in China. Geely Automotive Holding, a subsidiary of Zehejiang Geely Holding, is the 2nd biggest personal auto producer in China (twelfth greatest all round in China) and with Volvo they will now be able to swiftly move into a larger finish industry section of the automotive market inside of the nation. The Firm is at present producing most of its funds on low-cost compact and subcompact Cars.
Geely has created a guarantee in Sweden that it will retain the Volvo brand for what it is, and will preserve the Volvo cars separate from individuals presently manufactured by Geely Automotive Holding. Numerous in Sweden are concerned about the sale of its beloved automotive brand to a Chinese Firm, but several in China will be proud that a Chinese Business is now the proprietor of this kind of a properly acknowledged brand.
The writer has lately written an report on the new 2011 Ford explorer and the probability of Ford explorer Rebates http://carsmechanicpdf.com
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