• Jun 18, 2009
Any talk of brands for sale in the auto industry invariably includes a Chinese automaker as one potential bidder. As such, it's not surprising to hear that Chinese automaker Geely is reportedly in the running to buy Volvo from Ford. Chinese media, however, have begun reporting that Geely has actually signed a deal with the Dearborn-based automaker to buy the last remaining brand from Ford's now-defunct Premium Auto Group.

Has it actually happened? Both Ford and Volvo have made no official statements that would confirm what's being reported in the Chinese media. Official confirmations usually come after a deal has been widely reported in the media, though. However, the only outlets reporting this rumor are from China. We haven't heard a peep from any Swedish-based news organizations, which is surprising considering they were on the ball last week reporting that Koenigsegg had struck a deal with General Motors to buy Sweden's other big auto brand, Saab.

Swedespeed.com actually asked Volvo if the reports of a sale to Geely were true. James Hope, Volvo's US Product Communications Manager, had this to say.

"An announcement related to the sale of Volvo Car Corp. would only come from Ford Motor Company. As of today [Wednesday, June 17, 2009], neither Ford Motor Company nor Volvo Car Corporation in Sweden has made any announcement regarding the sale of Volvo. Reports of such a sale by any media outlet are speculative and, therefore, are not accurate."

There you have it. If an agreement has been struck by Geely and Volvo's parent company Ford, nobody's except the Chinese are talking about it.

[Source: Autocar.uk, Swedespeed]


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    • 1 Second Ago
  • 41 Comments
      • 5 Years Ago
      Muahaha! Take that, Volvo. Saab is bought by a conglomerate fronted by Koenigsegg, and their Swedish cousin gets pimped out to the Chi-Coms.

      All brand-loyalty gloating aside, I really hope this isn't true. Yeah, maybe it would turn out just fine for the health of the brand in the end, but just the idea of having such a great marque as Volvo falling into the hands of the masters of cheap-labor sweat-shop garbage makes me weep a little inside. Not to mention, if you think the vast right-wing consipiracy is going nuts over boycotting GM, just wait until they start rolling out Chinese Volvos...
      • 5 Years Ago
      So far this seems to be only a rumor.
      • 5 Years Ago
      For your information, Geely is the same company whose first car destined to the US market couldn't pass the US crash test and were scrapped. This company wants to build your next XC90.
        • 5 Years Ago
        Hypermiler - Geely is look to buy the company, not build Volvo's products. Volvo's product management and engineers wouldn't simply up and move to China.

        In essence, Geely could learn a good deal from Volvo in a deal such as this.
      Derek
      • 5 Years Ago
      I've never even owned a Volvo, but for some reason have a special place in my heart for the brand. That said, I really hope this sales rumor isn't true.
        • 5 Years Ago
        @Derek
        We have owned several volvo's including a 240, 740 and a V70R. We bought them for thier reputation of quality and safety. There is nothing coming from China with either one of those qualities! Say goodbye to Volvo as we know it.
      • 5 Years Ago
      Selling brands like Volvo to the Chinese will deadly backfire on the US and Eu car manufactures when the Chinese sucked up all the knowledge and come back with high quality cars for half the price on our domestic markets a few years later. Neither the US or the EU can compete with Chinese production cost.
      It's somehow like selling guns to your enemies...
      • 5 Years Ago
      As much as I hate the fact that the chinese force automakers for form "partnerships" and such to get their technology, it actually seems more fair they actually are buying one to get it this time around.

      I also am not sure I agree with everyone's assumption that they would ruin the heritage and quality though. I'm no china fan (and i'm chinese american) but Lenovo has done a pretty good job with the thinkpad line and the associated lenovo desktops which are still fantastically well built.
      • 5 Years Ago
      As an owner of a XC90 I'm not keen on the sale. That said, it is doubtful China will let Volvo wither and die, at least for some time. China wants to get into the international car market. They have a long way to go, just like when Japan and later Korea, when they began. What better way to get their foot in the door quickly; buying their way in with all those Dollars we've provided.

      Volvo has a sound history and is a quality product, leading the way with excellent marketing of safety. China will vacuum up all they can from Volvo, perhaps moving some of the low volume model production to China and in several years we'll see those items China wants/needs from the sale to show up on vehicles designed and built in China. It's only a matter of time until we begin to see vehicles built in China in the U.S. Predictably, the initial influx will be high-content low-cost vehicles. The same way Korea did. Given all the U.S. dollars we've provided they will be able to offer these vehicles as a loss-lead, just to get a toe-hold. Of course one could argue no one in the country will be able to afford anything the way the economy seems to be headed.

      In the big picture Volvo is a small mfgr and what long-term plans and prospective buyer may have is open to speculation.

      Does he sale include the large Volvo trucks and marine engines or is that separate?
        • 5 Years Ago
        Ford owns only Volvo Cars.
      • 5 Years Ago
      Now that the Chinese and the Indians are buying out the top brands (Landrover, Jaguar went to the Indians, Hummer to the chinese) it is only a matter of time when the worlds best brands are all Asian owned. Who knows when Daimler and BMW will require a buyout.. Porshe looks pretty comfortably placed for now though.
      • 5 Years Ago
      Volvo will now go the way of Ssangyong, with its Chinese owner unable to fund new Volvo car development and is only interested in looting tech and moving production to China.

      It is better for Volvo to be nationalized by Swedish government than be sold to the Chinese, which will abandon Volvo after looting what they need 4 years later.
        • 5 Years Ago
        Hypermiler - Geely is look to buy the company, not build Volvo's products. Volvo's product management and engineers wouldn't simply up and move to China.

        In essence, Geely could learn a good deal from Volvo in a deal such as this.
      • 5 Years Ago
      It's regrettable the Volvo Group is not in a position to simply buy their brand back from Ford and be done with it. With all the recent automotive brands jumping around like fleas on a hot brick, folks are starting to get dizzy.
      • 5 Years Ago
      I thought that words Chinese and Safety do not go hand in hand.
        • 5 Years Ago
        That actually might be a reason for such a rumored acquisition to make sense. If Chinese vehicles need to improve their safety features, who better to learn from than Volvo?
        • 5 Years Ago
        Good point! I never thought Ford would actually sell Volvo. I imagined it was just a smokescreen all along. Still not official. I surly hope they don't sell it. It's a good brand!
        • 5 Years Ago
        I really liked Volvo, too :(

        That sucks...
      logan
      • 5 Years Ago
      I have a Gen 1 C70, it is a fantastic car. A "real" Volvo. I have a deep affection for the brand, but I can guarantee I will NEVER buy a Chinese Volvo..
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