Ford Sells Volvo to China

Volvo is heading east to China after owner Ford announced that Geely won pole position in buying the struggling manufacturer.

Ford said that despite some work yet to do, the deal is likely to be finalised in the spring. Now the green light has been given, the future of Volvo and the launch of promising upcoming models such as the S60 should ‘fingers crossed’ be secure.

Following the well executed sale of Jaguar, Land Rover and Aston Martin, Volvo is the last of Ford’s Premier Automotive Group brands to move on. Despite the sad move across the world, the sale to Geely will give them a vital foothold in the European market and while some believe china at only good at inventing chopsticks and fireworks, the move will greatly benefit the Chinese firm as Volvo’s research and development expertise and engineering skills will be a huge advantage, as its main interests are in improved quality and safety. In their defence the Chinese are already renowned for their safety in cars, therefore for Volvo to move over; it’s a very wise move and i have no doubt that this will be a positive and successful transition, moving Volvo forward to hopefully drive sales and generate a generous return on investment, after years of wallowing in a floundering business.

Geely is the largest privately owned car company in China, and has grown at an astonishing rate since making its first passenger car in August 1998, following this success, In 1999 it built a further 2,000 vehicles and in 2009 production hit an impressive 300,000. With statistics boasting such soaring numbers it’s only a matter of time before Geely cracks the European market with the revived brand. Only time can tell and until then and while knowing Volvo is safe, fellow Swedish firm Saab is still waiting to be thrown a lifeline following General Motors plans to wind down the company.