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In March 2010, Ford Motor Company reached an agreement with a Chinese company to sell Volvo brand. Ford bought Volvo AB Volvo back in 1999. Volvo AB shares with the Ford brand and manufactures heavy vehicles under the brand name.
When Ford bought the company in 1999 paid a total of $ 6 billion, but sales of Volvo Cars of Zhejiang Geely Holding Group will receive a total of $ 1.8 billion. Ford itself is deprived of many car brands in recent years as the company implements a new strategy, where we begin to focus more on the company's core brands.
new Chinese owner of the Volvo brand is expected to build a factory for the company in China. With increasing car sales in China, Chinese-owned Volvo could get a significant amount of sales in China. Geely Automotive Holding, a subsidiary Zehejiang Geely Holding is the second largest private automaker in China (twelve highest total in China) and the Volvo they will now be able to quickly move into the higher end market segment in the automotive industry in zemlje.Tvrtka is currently making the most your money on inexpensive subcompact and compact cars.
Geely made a promise in Sweden that will keep the Volvo brand for what it is, and will keep Volvo car apart from those already made by Geely Automotive Holding. Many people in Sweden are concerned about selling his beloved car brand in the Chinese company, but many in China would be proud that a Chinese company that is now the owner of such well-known brand.
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