Volvo
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Volvo prices 2011 S60 T6 AWD from $37,700 05/10/2010, 10:08 AM BY ANDREW GANZ Volvo says that its upcoming all-wheel-drive S60 T6 AWD sedan will list from $37,700 when it goes on sale later this year. The 2011 S60 offers way more in the way of luxury and performance as it guns for more upscale – and more expensive – rivals like the BMW 335i and Mercedes-Benz C350. Though it clearly follows Volvo’s current design language, the S60 promises even more active and passive safety along with sporty performance. That price represents a roughly $800 increase over the dated outgoing 2009 S60 T5 model’s base price – but the new car adds nearly 50 horsepower, 70 lb-ft. of torque, …
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Volvo S60 crashes during safety demonstration with cameras rolling Safety is expected when you're Volvo, and when something goes wrong it's particularly embarrassing. Such was the case this week when media were invited to a demonstration of one of Volvo's latest latest safety technologies. The collision warning system on the S60 is supposed to detect an impending impacts and then autonomously apply the brakes to bring the vehicle to a halt, like this. Except it didn't! The S60 was launched at 30 mph toward the back of a parked truck and the crowd watched as it rolled straight into it without ever braking. Volvo representatives later claimed human error in the preparatio…
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Volvo celebrates 10 year anniversary of Safety Centre – crashing cars 05/06/2010, 9:12 AM BY ANDREW GANZ In order to make advancements, one must often makes sacrifices. Few automakers understand that more than Volvo, which for 10 years has been sacrificing its cars and trucks at the company’s Safety Centre near its global headquarters in Torslanda, Sweden. To commemorate the Safety Centre’s 10 year anniversary, the Swedish automaker released a video detailing some of the intricate tests it performs at the facility. Volvo says that nearly 3,000 full scale crash tests have been performed at the Safety Centre since it was inaugurated by Sweden’s King Carl XVI Gustaf in 2…
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Volvo revamps European diesel lineup 05/05/2010, 2:44 PM BY ANDREW GANZ Volvo says that its new 2.0-liter, five-cylinder turbodiesel engine, which first premiered in the company’s all-new S60 sedan, will be offered in all of its European offerings for the 2011 model year in a variety of output configurations. The engine brings with it a new – and slightly complex – nomenclature structure for the automaker’s European lineup. Volvo has no firm plans to export any of its diesel powertrain levels to North America, however. The entry-level 2.0-liter puts out 148 horsepower and will be badged D3 in the company’s smallest offerings, the C30, S40, V50 and C70. A more powerful…
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Volvo Redefines Luxury With XC60 Interior By Drew Winter WardsAuto.com, Apr 26, 2010 8:00 AM Not long ago, a premium-priced truck was just a big SUV with leather seats and extra options. Now, the best luxury brands in the business are fierce competitors in the segment, and it is tough to stand out. In an effort to get noticed the Volvo brand, recently purchased from Ford Motor Co. by China’s Zhejiang Geely Holding Group, now is taking chances and daring to be different with some pretty audacious interior designs. After giving the Volvo XC60 a Ward’s Interior of the Year award for premium trucks, we can only say the strategy is working. Innovative styling usual…
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Geely: Volvo could break even by year’s end 04/13/2010, 8:40 AMBY DREW JOHNSON The Volvo brand was never quite the profit center Ford had hoped for when it purchased the Swedish marque in 1999, but Volvo’s new owner – China’s Geely – is optimistic the luxury brand will be able to at least break even by the end of the year. Like its cross-country rival Saab, Volvo has struggled to generate profits over the last several years, prompting Ford to finally put the Swedish brand up for sale. However, despite its struggles, Geely believes it can right the ship by the fourth quarter of 2010. “As far as I know, Volvo is in good operating condition and it’s possible it could bre…
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Ford's Volvo deal makes Alfa grumblers grateful Automotive News -- April 5, 2010 - 12:01 am ET The significance of Ford's sale of Volvo to the Chinese automaker Geely wasn't lost on Alfa Romeo enthusiasts. For nearly a quarter-century, some Alfisti have pondered how things might have been different -- maybe much better -- if Ford had acquired control of the brand in 1986. But the Volvo sale seems to have put an end to the pondering. In 1986, Alfa was a money-bleeding, government-owned sports-car maker, but a company Henry Ford II had always coveted. The Deuce was still bothered by having tried and failed to acquire Ferrari two decades earlier, losing out to Fiat. …
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Geely: Volvo and Geely will remain separate 04/02/2010, 5:27 AMBY MARK KLEIS Helping save Volvo’s image of being one of the safest and better quality automakers, Geely has announced its clear intentions to keep Geely and Volvo automotive production and development separate. Geely sees the purchase of Volvo as an opportunity to expand its volume and global presence, but has no desire to change the way Volvo operates. With Geely’s confirmed intent to buy Volvo from Ford in the very near future, the automaker has now announced that it will keep its Geely and Volvo brand separate, with neither brand producing vehicles for or by the other automaker, according to Reuters. G…
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Geely Chairman Promises To Liberate Volvo from its Capitalist Owner / Oppressors Tuesday, March 30, 2010 | 0 Comments » Categories | China, Ford, Geely, Reports, Volvo | Zhejiang Geely Holding Group Chairman Li Shufu recently had this to say about Volvo and its $1.8 billion purchase from Ford Motor Company: "A tiger belongs to the forest. It belongs to the wild world and not confined in a zoo. We need to liberate this tiger." Anyone else see the irony? According to Autonews, Li was referring to Volvo's dependence on Europe for production and Europe and North America for the most part of its sales. Geely's chairman believes that this issue will be solved by building a …
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China's Geely gets key help on Volvo from Rothschild March 30, 2010 06:01 CET LONDON (Reuters) -- One of China's most senior female bankers, two top Swedish industrialists and a childhood friend of London's mayor led the Rothschild team that helped Geely seal China's biggest-ever overseas autos takeover. Signing the deal helps cement Rothschild's standing as the busiest financial adviser to the automotive industry. On Sunday, Li Shufu's Zhejiang Geely agreed to buy Volvo Cars from Ford for $1.8 billion. That capped months of painstaking negotiations over the future of the Swedish sedan maker, which Ford has owned for a decade. Even before the Volvo transaction, Roths…
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Geely to keep Volvo production under Volvo roof March 30, 2010 11:16 CET BEIJING (Reuters) – Zhejiang Geely Holding Group, China's biggest private car maker, said on Tuesday it will not produce Volvo brand cars, nor will Volvo make Geely brand cars, following Geely's planned purchase of Volvo from Ford. "Volvo comes from Northern Europe and is rooted in Sweden. Volvo will not be Volvo any more if taken out of the soil," Geely Chairman Li Shufu said, after returning from Sweden where his company agreed to pay $1.8 billion for Volvo. "The relations between Geely and Volvo in the future will be like brothers, not father and son," he said. Geely, which means auspicious …
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China's Geely to put $900M more into Volvo BY BONNIE CAO ASSOCIATED PRESS BEIJING— Chinese automaker Zhejiang Geely Holding Group expects to spend hundreds of millions of dollars beyond the $1.8 billion purchase price for Volvo Cars to make the Swedish car company profitable, Geely's chairman said today. Geely is projecting a total tab of $2.7 billion for its takeover of Volvo, with money beyond the purchase price to be spent on expanding production, chairman Li Shufu told reporters. Li said three quarters of the total financing would come from Chinese banks and overseas capital markets while the rest would come from Geely. In studying Volvo, Geely found the company…
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Uncovered: 2011 Volvo V60 wagon! 03/29/2010, 1:01 PMBY ANDREW GANZ Our spies have just nabbed photos of a pair of completely undisguised examples of Volvo’s upcoming sub-V70 station wagon, the V60. Having recently taken the wraps off of its bread-and-butter S60 sedan, Volvo will soon turn its product focus to its midsize wagon. Spotted fully uncovered and looking showroom-ready, this pair of V60 wagons shows off a shapely, C30-esque integration of the wagon bodystyle into the S60 that was unveiled a few weeks ago in Geneva. If nothing else, the V60 is yet another all-new product that Chinese automaker Geely will inherit when it takes full ownership of Volvo later this…
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Ford sells Volvo to Geely for $1.8 billion 03/28/2010, 11:39 AMBY NICK AZIZ Ford on Sunday announced it has entered into what is describes as a “definitive agreement” to sell the Volvo brand to China’s Zhejiang Geely Holding Group, otherwise known in the industry simply as Geely. Ford indicates the sale will close in the third quarter of 2010 and is subject to applicable regulatory approvals. Geely has agreed to pay $1.8 billion for the Swedish automaker, which was acquired by Ford in 1999 for $6.45 billion. The sale of Volvo represents the final step in Ford’s dismantlement of its Premier Automotive Group, which previously included Aston Martin, Jaguar, and Land Rove…
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Ford, Geely set to sign Volvo accord today March 28, 2010 - 12:01 am ET STOCKHOLM (Reuters) -- Zhejiang Geely Holding Group, China's largest private-run carmaker, will sign an agreement today with Ford Motor Co. to buy the U.S. carmaker's Volvo car unit, a Volvo spokesman said. Geely and Ford plan to announce details of the deal -- China's biggest overseas auto purchase -- at a news conference in the west coast Swedish city of Gothenburg at 9:20 a.m. EDT. "This is to talk about the stock purchase agreement between Ford and Geely," Volvo spokesman Per-Ake Froberg said Saturday. The deal will not be closed for a number of months, probably in the third quarter, he said.…
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Volvo unions demand answers as Geely buy looms March 26, 2010 06:01 CET STOCKHOLM (Reuters) – Unions at Ford Motor Co.'s Volvo Car Corporation on Thursday withheld their backing for a planned acquisition by Zhejiang Geely Holding Group, setting the stage for a potentially troublesome takeover by the Chinese automaker. Ford and Zhejiang Geely, China's largest private carmaker and the parent of Hong Kong-listed Geely Automobile Holdings, are expected to sign an acquisition deal for Volvo Cars in the coming days. But the Volvo unions said in a joint statement they had still not received any information about how the capital needs of Volvo would be met, nor about which in…
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China's vice president Sweden-bound as Geely-Volvo deal nears March 26, 2010 12:07 CET HONG KONG (Reuters) – Chinese Vice-President Xi Jinping will travel to Sweden this weekend, amid talk he will attend the signing of a deal for Zhejiang Geely Holding Group to buy Ford Motor Co's Volvo car unit for as much as $2 billion, China's biggest ever overseas auto acquisition. During his four-day state visit starting Saturday, Xi will meet Sweden's king and senior officials and visit the city of Gothenburg, China's official Xinhua News Agency reported. Volvo spokesman Olle Axelson confirmed that preparations were underway for an announcement at the company's headquarters in G…
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As Volvo sale nears, questions linger One is cooperation of 3 carmakers BY BRENT SNAVELY FREE PRESS BUSINESS WRITER With just days left before Ford-owned Volvo's likely sale to Chinese automaker Geely, big questions remain about the deal: How closely will the three companies work together in the future and for how long? Ford, which acquired Volvo in 1999 for $6.4 billion, is expected to reach an agreement to sell Volvo as early as this weekend, according to a person familiar with the process, and arrangements are being made for an announcement in Sweden. The Free Press has previously reported that the sale could be for about $1.8 billion. Ford spokesman Mark Truby …
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Volvo to drop V70, alter North American engine lineup for 2011 03/25/2010, 12:56 PMBY ANDREW GANZ According to a leaked 2011 dealer document, Volvo will drop its mainstream V70 wagon and slice the engine offerings in the rest of its sedan and station wagon lineup for the new year to better reflect product demand. Despite middling sales, the V70 has been a Volvo icon for a decade, but the Swedish automaker says it will instead offer a front-wheel-drive XC70 wagon in a bid to increase sales. Jalopnik has obtained a Volvo “Product Update Bulletin” detailing changes to the 2011 Volvo lineup. Headlining the document is Volvo’s plan to drop the V70 and replace it with a mech…
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Ford optimistic on Volvo sale Anticipation escalates over $1.8B deal as companies plan announcement in Sweden Bryce G. Hoffman / The Detroit News Ford Motor Co. remains confident that it will finalize an agreement to sell its Swedish luxury brand, Volvo, to China's Zhejiang Geely Holding Group next week. But what had been planned as a low-key announcement is rapidly escalating into a major international event: Chinese Vice President Xi Jinping is now scheduled to be on hand to sign the deal, according to sources close to the negotiations. "We're still working toward reaching a definitive sales agreement by the end of this month," Ford spokesman Mark Truby said Wednes…
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Volvo sale deal hits snag, Geely chairman tells paper March 19, 2010 06:01 CET HONG KONG (Reuters) -- Zhejiang Geely Holding Group Chairman Li Shufu indicated talks to buy Ford's Volvo car unit had hit a snag due to problems at Ford Motor Co., but continues to expect to complete the deal, a newspaper report said on Friday. "We're ready to seal the deal," Li told the Wall Street Journal on the sidelines of a ceremony at a company-affiliated university in Beijing. Li said the situation was changing constantly and the negotiation process very tough. "If the deal fails, the problem is not on our side. We have not violated any part of the agreement," he said, without spec…
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Report: Volvo XC30 Crossover Due In 2012 By Viknesh Vijayenthiran Car Expert March 17th, 2010 With cars like the BMW X1 and a planned Mercedes-Benz BLK compact crossover based on the next-generation B-Class, European luxury marques are starting to venture into territory normally dominated by South Korean and Japanese automakers. It would seem then that there is no barrier to the types of segments automakers, be they luxury or mainstream, can compete in these days, which is why we’re going to see more competition between brands that only a few years ago wouldn’t have even been mentioned in the same breath. Take Volvo, for example. The Swedish automaker is set to launc…
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Geely, Ford say they are on track to sign Volvo deal March 17, 2010 - 9:01 am ET LONDON/HONG KONG (Reuters) -- Zhejiang Geely Holding and Ford Motor Co. said they were still on track to sign a deal this month for Ford's Volvo cars unit, after a Chinese newspaper said Geely's planned $2 billion purchase faced hurdles. Spokesmen for Ford and Geely said today that the plan remained to sign a sale and purchase agreement by the end of this quarter, and to complete a deal in the second quarter. Anders Fogel, a Stockholm-based spokesman for Geely, said the two sides were making progress "according to plan" on the three key issues of legal documentation, financing, and regula…
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Geely May Need $1.4 Billion to Revive Volvo After Ford Deal March 10, 2010, 1:28 PM EST By Ola Kinnander and Keith Naughton March 11 (Bloomberg) -- Zhejiang Geely Holding Group Co. may have to spend at least 10 billion kronor ($1.4 billion) to revive Volvo Cars after buying the Swedish brand from Ford Motor Co., Volvo union officials and board members said. The figure would be “an absolute minimum” for financing car development, marketing, production and distribution in the next year, and the money needed could be double that amount, Glenn Magnusson, head of the managers’ union at Gothenburg, Sweden-based Volvo, said in an interview. Ford and Geely will probably sign…
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