Volvo sold to China's Geely

AFP/The Local ^ | March 28, 2010

[ConservativeStatement]

Chinese car maker Zhejiang Geely Holding has signed a deal to buy Sweden's Volvo Cars from US auto maker Ford. "I can confirm that a final agreement on the sale of Volvo to Geely was signed at 2:40 pm," Volvo Cars spokesman Per-Åke Fröberg told AFP ahead of a news conference due around 3.30pm.

The deal was signed at Volvo headquarters in Gothenburg by Ford's financial director Lewis Booth and Geely's president Li Shufu, Froeberg said.

[NoRedTape]

Volvos were great cars; back in the day. In my opinion.

[Bringbackthedraft]

Volvo had a great car,it was the 122-124 with the B-18 engine. Lost interest in Volvo after they discontinued the model. In the last 20 years they haven’t been as reliable as the old 122.

[WesternCulture]

“As a Saab enthusiast I was very happy that Saab escaped Government Motors. But wow, what a turn of events with Volvo. When BAIC was in on the Saab deal I doubted I could ever buy a Saab again, now with Geely owning Volvo I could never purchase a Volvo.”

- I don't know much about Geely or Chinese Culture, but I doubt this deal is the best thing that could have happen to Volvo Cars.

On the other hand, Volvo cars is probably too small to survive on its own or, alternatively, as a division of a corporation which doesn't primarily concentrate on personal vehicles.

I'm afraid that worldwide, perhaps even in China, many potential customers feel the same way as most of the members who've contributed to this thread.