Strength and style The Volvo XC60 combines grace with power. A long bonnet, muscular wheel arches and short overhangs create a sense of refined strength. And Active High Beam means you always get the best view, without dazzling other road users.
Assar Gabrielsson was appointed the managing director and Gustav Larson as the technical manager. Cars are driven by people. The guiding principle behind everything we make at Volvo, therefore, is and must remain, safety.
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Some pre-series of Volvo-bearings stamped with the brand name 'Volvo' were manufactured but never released to the market, and it was not until that the trademark was used again, now as a trademark and company name for an automobile.
After this the young company produced closed top and cabriolet vehicles, which were designed to hold strong in the Swedish climate and terrain. Presented in the Volvo PV passenger car only entered production in It was the smallest Volvo yet and was to take the lion's share of Volvo production, as well as spearheading their move into the profitable American market.
The first Volvos arrived in the United States inafter hardware wholesaler Leo Hirsh began distributing cars in California. Later, Texas was added, and inVolvo themselves began importing cars to the US.
North America has consistently provided Volvo with their main outlet since. Gyllenhammar saw early on that Volvo was too small to survive in the future, and attempted several times to merge with other manufacturers.
Volvo nearly merged with Saab in the late seventies, while in an aborted affair would have seen the Norwegian state take over 40 percent of the company. In return, Volvo would receive million SEK and a ten percent concession in the Oseberg oil field.
Major institutional actors in Sweden opposed the deal and blocked it. The appearance of Japanese brands like Acura and Lexus and the growing popularity of Subaru station wagons in subsequent years meant the loss of a significant market share for Volvo, one which they have never regained.
Ford saw advantages in acquiring a profitable prestige mid-size European automobile manufacturer, well renowned for its safety aspects, as an addition to its Premier Automotive Group.
As a result of the divestiturethe Volvo trademark is now used by two separate companies: While part of the PAG, the company grew in its range of vehicles significantly. After Ford sold Jaguar Land Rover to Tata Motors of India inthe company initially decided to keep Volvo Cars despite mounting losses and gross economic downturns.
The outcome was the luxurious second generation Volvo S80 and the new small premium crossover Volvo XC When the global economic crisis of threatened the US automakers, Swedish authorities became concerned about the fate of Volvo if Ford would file for bankruptcy.
These concerns mounted after repeated mass-layoffs at Volvo. Ford announced in December that it was considering selling Volvo Cars. Former parent AB Volvo agreed to help Volvo cut costs through partnerships, and suggested taking part in a shared ownership of Volvo Cars amongst a larger consortium.
Although it was rumoured that Volkswagen would buy Volvo Cars, and despite initial denials, Chinese company Geely Holding Group was ultimately selected to take over the Swedish automaker.
Further payments are expected with a later price "true-up".
Li Shufu became Volvo Cars' chairman of the board. The manufacturer has developed a new line of 3- and 4-cylinder diesel and petrol engines while eliminating larger engines.Find the latest business news on Wall Street, jobs and the economy, the housing market, personal finance and money investments and much more on ABC News.
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