Geeley Buys Volvo - New York Times

STOCKHOLM (Reuters) - Zhejiang Geely Holding Group, China's largest
private-run car maker, agreed on Sunday to buy Ford Motor's Volvo car
unit, the country's biggest overseas auto purchase.

Details of the deal will be provided at a news conference later on
Sunday, Volvo's spokesman Per-Ake Froberg said.

The takeover underscores China's arrival as a major force in the global
auto industry and ends nearly two years of talks with Geely over the
sale of Volvo -- the last sale from Ford's former premier group, which
also included Aston Martin, Jaguar and Land Rover.

The deal, which both sides aim to close in the coming months, will free
up cash for the number two U.S. automaker and enable it to focus on its
core Ford brand.

Geely, parent of Geely Automobile Holdings, was named by Ford as the
preferred bidder for its loss-making Swedish unit in October 2009.

It plans to keep the brand and operations -- including Volvo's
headquarters, production facility and research center -- in Sweden.

Geely chairman Li Shufu is already planning a factory in Beijing which
will make 300,000 Volvo branded cars, or as many Volvos for China as
are now made abroad for foreigners.

China raced past the United States to become the world's top auto
market last year, with sales surging 46 percent to a record 13.6
million units. It is keen to move into Western markets but has so far
lacked the technology and brand recognition to do so.

The Volvo deal should help the Chinese carmaker to get around some of
those obstacles more quickly.

In article <4QIrn.302022$(E-Mail Removed)>,
John von Colditz <(E-Mail Removed)> wrote:

> The takeover underscores China's arrival as a major force in the global
> auto industry

Hmmm. "Major force?" How many Volvos were sold last year?

--
Faith is believing what you know ain't so.
-Mark Twain

Tim McNamara wrote:
> In article <4QIrn.302022$(E-Mail Removed)>,
> John von Colditz <(E-Mail Removed)> wrote:
>
>> The takeover underscores China's arrival as a major force in the global
>> auto industry
>
> Hmmm. "Major force?" How many Volvos were sold last year?
>

I think they are referring to the fact that China now makes more cars
than the US.

I can bet this will mean alot more Chinese components.

--
Tony

Tony wrote:
> Tim McNamara wrote:
>> In article <4QIrn.302022$(E-Mail Removed)>,
>> John von Colditz <(E-Mail Removed)> wrote:
>>
>>> The takeover underscores China's arrival as a major force in the
>>> global auto industry
>>
>> Hmmm. "Major force?" How many Volvos were sold last year?
>>
>
> I think they are referring to the fact that China now makes more cars
> than the US.
>
> I can bet this will mean alot more Chinese components.
>
> --
> Tony


Indeed, RIP Volvo...

On Mon, 29 Mar 2010 19:22:09 -0700, James Sweet
<(E-Mail Removed)> wrote:

>Tony wrote:
>> Tim McNamara wrote:
>>> In article <4QIrn.302022$(E-Mail Removed)>,
>>> John von Colditz <(E-Mail Removed)> wrote:
>>>
>>>> The takeover underscores China's arrival as a major force in the
>>>> global auto industry
>>>
>>> Hmmm. "Major force?" How many Volvos were sold last year?
>>>
>>
>> I think they are referring to the fact that China now makes more cars
>> than the US.
>>
>> I can bet this will mean alot more Chinese components.
>>
>> --
>> Tony
>
>
>Indeed, RIP Volvo...


goodbye to Volvo cars -- back in1998. Volvo AG is still happy &
healthy. it is prehaps also forward thinking. cars aren't as much fun
as they once were. i am showing one nephew how to work on cars. "you
read the diagnostic code. look it up. purchase a new module. plug it
in." i once rebuilt a Weber 4 barrel. now that was fun.

Richard W Langbauer wrote:
> On Mon, 29 Mar 2010 19:22:09 -0700, James Sweet
> <(E-Mail Removed)> wrote:
>
>> Tony wrote:
>>> Tim McNamara wrote:
>>>> In article <4QIrn.302022$(E-Mail Removed)>,
>>>> John von Colditz <(E-Mail Removed)> wrote:
>>>>
>>>>> The takeover underscores China's arrival as a major force in the
>>>>> global auto industry
>>>> Hmmm. "Major force?" How many Volvos were sold last year?
>>>>
>>> I think they are referring to the fact that China now makes more cars
>>> than the US.
>>>
>>> I can bet this will mean alot more Chinese components.
>>>
>>> --
>>> Tony
>>
>> Indeed, RIP Volvo...
>
>
> goodbye to Volvo cars -- back in1998. Volvo AG is still happy &
> healthy. it is prehaps also forward thinking. cars aren't as much fun
> as they once were. i am showing one nephew how to work on cars. "you
> read the diagnostic code. look it up. purchase a new module. plug it
> in." i once rebuilt a Weber 4 barrel. now that was fun.


Newer cars aren't any less interesting, they're just different. I built
a modern ECU (Megasquirt) for my 240 from scratch and have repaired
quite a few Bosch ECUs and relays for mostly Volvos and VWs. Multimeter,
oscilloscope, and a soldering iron instead of screwdrivers and oily rags
but it can still be done. The mechanical bits haven't changed much
either, there's just more stuff jammed in there. I do prefer the 200 and
700 series cars, but I've done newer stuff too and it's not bad.

I cringe at the thought of Chinese parts in cars, I hate to generalize
against a whole country but I have seen *so* many examples of horrid
quality control, some parts excellent and some completely unacceptable,
you can bet I would never willingly step onto an aircraft made with
critical parts from China.

In article <hotc0l$1gq$(E-Mail Removed)>,
(E-Mail Removed) says...
>
> I cringe at the thought of Chinese parts in cars, I hate to generalize
> against a whole country but I have seen *so* many examples of horrid
> quality control, some parts excellent and some completely unacceptable,
> you can bet I would never willingly step onto an aircraft made with
> critical parts from China.
>

My feeling exactly. I was fully intending to buy one of the 2010 diesel
xc70ies, but I think that plan has just been scuttled - simply because I
fear that Chinese components will find their way into them, and on to
the spare parts shelves. Guess I'll be looking for a new marque to try.

Too bad, I've loved all my Volvos, they're such a joy to drive. If
somebody wants to go and shoot a few Ford execs for this deed, I'll
happily pay for the bullets.

-P.

Peter Huebner wrote:
> In article <hotc0l$1gq$(E-Mail Removed)>,
> (E-Mail Removed) says...
>> I cringe at the thought of Chinese parts in cars, I hate to generalize
>> against a whole country but I have seen *so* many examples of horrid
>> quality control, some parts excellent and some completely unacceptable,
>> you can bet I would never willingly step onto an aircraft made with
>> critical parts from China.
>>
>
> My feeling exactly. I was fully intending to buy one of the 2010 diesel
> xc70ies, but I think that plan has just been scuttled - simply because I
> fear that Chinese components will find their way into them, and on to
> the spare parts shelves. Guess I'll be looking for a new marque to try.
>
> Too bad, I've loved all my Volvos, they're such a joy to drive. If
> somebody wants to go and shoot a few Ford execs for this deed, I'll
> happily pay for the bullets.
>
> -P.
>


Well if you think about it, the success of the brand is not in Ford's
best interest once it is no longer theirs, it's just a competitor. It's
just unfortunate that Volvo sold out in the first place, I would have
thought Sweden would have done something about what is essentially their
entire auto industry, Volvo and Saab, being sold to foreign companies
who pretty much ran them into the ground.

Peter Huebner wrote:
> In article <hotc0l$1gq$(E-Mail Removed)>,
> (E-Mail Removed) says...
>> I cringe at the thought of Chinese parts in cars, I hate to generalize
>> against a whole country but I have seen *so* many examples of horrid
>> quality control, some parts excellent and some completely unacceptable,
>> you can bet I would never willingly step onto an aircraft made with
>> critical parts from China.
>>
>
> My feeling exactly. I was fully intending to buy one of the 2010 diesel
> xc70ies, but I think that plan has just been scuttled - simply because I
> fear that Chinese components will find their way into them, and on to
> the spare parts shelves. Guess I'll be looking for a new marque to try.
>
> Too bad, I've loved all my Volvos, they're such a joy to drive. If
> somebody wants to go and shoot a few Ford execs for this deed, I'll
> happily pay for the bullets.
>
> -P.
>


It's probably as safe to buy a Volvo now as it was last week. The
cars (and presumably parts) for the West will still be made in Sweden -
for now. I wouldn't consider one in five years, however...

James Sweet wrote:
> just unfortunate that Volvo sold out in the first place, I would have
> thought Sweden would have done something about what is essentially their
> entire auto industry, Volvo and Saab, being sold to foreign companies
> who pretty much ran them into the ground.

Gov't bailouts are always wrong, just look at the banks, we still have
the same people and the same problems. Although I agree Volvo were
adding good value, it didn't fit in our capitalist system and they were
doing something wrong, not enough lying on advertising or something.

Gov't should only protect citizens and not companies, the latter must
evolve in a Darwinian way.

--
Tony