| When Ford bought Volvo back in 1999, the company | | | | a profit since 2005", however, Geely Chairman Li |
| paid a reported $6.5 billion, but Ford have announced | | | | Shufu has reportedly said "we are pleased to have |
| that it has entered into a "definitive agreement" with | | | | reached this agreement with Ford, enabling us to |
| Geely, Chinese car manufacturer for $1.8 billion (£1.2 | | | | safeguard and strengthen Volvo's renowned brand |
| billion). A spokesperson for Ford has said "we at Ford | | | | heritage". |
| believe that Volvo's solid foundation, plus the | | | | The BBC News website has reported that "more than |
| commitment of Geely, will ensure that Volvo can | | | | 13 million cars were sold in China last year – a rise |
| continue to build its business and continue, to | | | | of nearly 50% on the previous year, which has lead |
| profitability". | | | | Geely spokesperson to say "they expect annual sales |
| The slump of the recession has had an effect on | | | | in China to total 400,000 this year" – which could |
| every industry in one way or another and the car | | | | help to boost Volvo and maybe even make a profit |
| industry is just one of many that have experienced a | | | | for the first time in 5 years. |
| negative impact. According to the BBC News website, | | | | have reported that the sale of Volvo represents the |
| "Ford hopes that the sale of Volvo will help it pay off | | | | "final step in Ford's dismantlement of its Premier |
| its debts and focus on its core brands, following a dire | | | | Automotive Group", which previously included Aston |
| period for the global car industry". | | | | Martin, Jaguar and Land Rover. The story of Volvo |
| Volvo has seen success throughout the years, | | | | under Ford's ownership may not have given them a |
| including its 4x4 models, such as the XC70 and XC90, | | | | fairytale ending, but with Geely now in charge they are |
| which have achieved a 5/5 for safety and a 4/5 for | | | | planning on re-writing the future of Volvo which could |
| reliability in a review by What Car? Not a bad | | | | lead to a happy ever after for the Swedish marquee |
| evaluation if you ask me- but is it enough? reports that | | | | after all. |
| "Ford can finally rid itself of Volvo, which hasn't turned | | | | |