Skip to comments.General Tso's New Meatball: Ford Finalizes Volvo Sale To Chinese
Posted on 12/23/2009 7:48:17 AM PST by Las Vegas Dave
Ford's finalized sales terms of Volvo, the U.S. automaker's Swedish brand, to Chinese car conglomerate Geely. As one meatball falls on the floor, another is picked up... then sold to the Chinese restaurant down the block.
And these are seriously meatball-like prices. Ford bought Volvo for $6 billion in 1999 and reports indicate they'll be selling the brand for just $2 billion. Well, at least it's, you know, not a total loss.
The Lib-mobile has gone Chinese. What will they buy now?
It’s surprising that Tiger Woods didn’t buy the company and make them be a sponsor for him.
This has to be a real blow!!
...and I shop at WalMart.
Are you kidding? They’ll love it even more now. The collective will be making them. All together now, “Mao, he is the leader, the leader we adored...”
Second verse, same as the first...
They are going to have to change their ad campaign of being the safest car in the world. LOL
Does this mean that Volvo will now be made in China? That would be a blow to the Swedish socialist economy. It has been my observation that European socialism has been propped up largely by money from affluent foreign customer and tourists. Tourism, cars, fashions, leather goods, perfume, jewelry, wine, cheese, crystal, watches, etc., etc., etc.
In other words, however well they have been doing(not as well as some would have us think) they have depended on capitalist prosperity.
yes but will I still see them parked in front of Starbucks with those “Free Tibet!” bumper stickers all over them?
They used to make good cars.
I have owned 444, 544, 122s and 245.
They went downhill after 1977 when they stopped using the OVH B engines and went to the OCH B engines.
This should make the libtards really happy - now they can drive a true collectivist car. Hope they don’t mind the slave labor associated with such products. Oh yea, chinese prison labor is different from true slave labor, or so says Hillary. Human rights were taken off the Chinese agenda under bammy and hills. The same thing happens regarding the homeless here every time a dem ascends to the WH. One wonders how the collectivists will share the pie between the workers and the designers? Should make for interesting watching. VOLVO - made in China.
Aggreed, I owned two of the 240 inline 4 cylinders. The engines were indestructable and the bodies/frames were built like tanks.
The problem I had with them were water pumps, fuel pumps and other parts tended to go and were expensive to replace.
I think I like the move, actually. Ford takes a loss for taxes, yet frees up capital. I also wonder how much debt they managed to include in the deal.
They will sell off the company with what amounts to a free non-compete agreement. In other words, I do not believe that Chinese management and Chinese quality control can build a car that people will buy in a free market.
Except they will be made by non union workers...
Oooo, major penalty! ;-)