Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Ford officially confirms China's Geely as preferred bidder for Volvo]]>http://www.autoblog.com/2009/10/28/ford-officially-confirms-chinas-geely-as-preferred-bidder-for-v/http://www.autoblog.com/2009/10/28/ford-officially-confirms-chinas-geely-as-preferred-bidder-for-v/http://www.autoblog.com/2009/10/28/ford-officially-confirms-chinas-geely-as-preferred-bidder-for-v/#commentsFiled under: , , ,

Volvo S60 concept - click above for high-res image gallery

It's been rumored for months Chinese automaker Geely had the best shot at picking up the Volvo brand from Ford, and today, Dearborn has finally confirmed it. Geely was named as the preferred bidder this morning and the Blue Oval is proceeding with negotiations. However, this is not going to be an easy deal to close. Ford doesn't want to keep any stake in the Swedish company, although it does hope to continue some product cooperation.

In spite of the lack of shareholding, Ford doesn't want Volvo to wither on the vine and wants whoever buys it to have the resources to make it a going concern - unlike what happened when BMW dumped Rover. Perhaps the toughest nut to crack will be intellectual property concerns. Any time a sale like this happens, the seller is be concerned about leaving too much information lying around, and that concern is understandably amplified when dealing with an up-and-coming Chinese company. There is no word on when a deal might be closed, so in the meantime, busy yourself with the official release after the jump.


Gallery: Detroit 2009: Volvo S60 Concept


[Source: Ford]

Continue reading Ford officially confirms China's Geely as preferred bidder for Volvo

Ford officially confirms China's Geely as preferred bidder for Volvo originally appeared on Autoblog on Wed, 28 Oct 2009 12:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ford volvoford volvo geelyFord volvo saleFordVolvoFordVolvoGeelyFordVolvoSalegeelyVolvoVolvo salevolvo sale chinavolvo sale chinesevolvo sale geelyVolvoSaleVolvoSaleChinaVolvoSaleChineseVolvoSaleGeelyWed, 28 Oct 2009 12:58:00 EST<![CDATA[REPORT: Chinese government approves of Chery's bid to purchase Volvo]]>http://www.autoblog.com/2009/03/06/report-chinese-government-approves-of-cherys-bid-to-purchase-v/http://www.autoblog.com/2009/03/06/report-chinese-government-approves-of-cherys-bid-to-purchase-v/http://www.autoblog.com/2009/03/06/report-chinese-government-approves-of-cherys-bid-to-purchase-v/#commentsFiled under: , , , ,

If, like us, you've been following the Volvo saga pretty closely, you'll remember that several Chinese companies are considered to be among the top bidders for the Swedish automaker when Ford officially opens the bidding. Although Geely has said they aren't interested, that didn't rule out other Chinese outfits.

Well, today we have word via Chinese news reports that Chery, for one, has been given the greenlight to enter the Volvo lottery by the Chinese government. Other interested parties are rumored to be Dongfeng Motor Group and Chongqing Changan Automobile Co, along with a "European constellation," whatever that means.

Ford is looking to recoup the bulk of its initial $6.45 billion investment when it sells Volvo, so that might put it out of Chery's league. But who knows? Chery Auto just got a 10 billion yuan ($1.47 billion) loan to help it grow globally and was also given a line of credit by the bank, so only time will tell.

[Source: Gasgoo]

REPORT: Chinese government approves of Chery's bid to purchase Volvo originally appeared on Autoblog on Fri, 06 Mar 2009 17:57:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>cheryChery VolvoCheryVolvovolvo salevolvo sale chinavolvo sale chineseVolvoSaleVolvoSaleChinaVolvoSaleChineseFri, 06 Mar 2009 17:57:00 EST<![CDATA[REPORT: Geely denies plans to buy Volvo]]>http://www.autoblog.com/2009/02/05/report-geely-denies-plans-to-buy-volvo/http://www.autoblog.com/2009/02/05/report-geely-denies-plans-to-buy-volvo/http://www.autoblog.com/2009/02/05/report-geely-denies-plans-to-buy-volvo/#commentsFiled under: , ,

Of the many suitors who have reportedly had at least a passing interest in acquiring the Volvo brand from Ford Motor Company, the Volvo Group, BMW and Daimler have all publicly decided to pass on the opportunity. Many believe that a Chinese automaker will step up to the plate and purchase the Swedish brand known for safety, but now Geely has withdrawn its name from the proceedings with the statement, "We don't have plans to buy Volvo as some media have reported." Well, fine then.

With Geely dropping out, SAIC remains a possible Chinese suitor along with Changan Automobile Group, Dongfeng Motor Group and Chery Automobile, all of which have said that they are monitoring the situation, whatever that means. Renault has recently emerged as a possible bidder as well. Ford is rumored to be looking to get about $6 billion for Volvo, which is just about what the Blue Oval paid for it in 1999.

[Source: Automotive News - sub. req'd]

REPORT: Geely denies plans to buy Volvo originally appeared on Autoblog on Thu, 05 Feb 2009 13:26:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>geelyvolvovolvo geelyvolvo salevolvo sale chinavolvo sale chineseVolvoGeelyVolvoSaleVolvoSaleChinaVolvoSaleChineseThu, 05 Feb 2009 13:26:00 EST<![CDATA[Geely reportedly interested in Volvo Cars]]>http://www.autoblog.com/2008/12/18/geely-reportedly-interested-in-volvo-cars/http://www.autoblog.com/2008/12/18/geely-reportedly-interested-in-volvo-cars/http://www.autoblog.com/2008/12/18/geely-reportedly-interested-in-volvo-cars/#commentsFiled under: , ,

We already know that Ford has placed Volvo on the auction block and is actively shopping its Swedish brand to at least one Chinese automaker. New rumors indicate that there may be more players in China with more than a passing interest in taking the brand off the Blue Oval's hands. If SAIC doesn't bite at Ford's $6 billion asking price, Geely has emerged as a possible bidder and officials from the Chinese automaker have reportedly made the trip all the way to Volvo's headquarters in Gothenburg, Sweden, to discuss a possible sale with Ford.

So, what potential roadblocks stand in the way of a Chinese automaker snatching Volvo from the throes of bankruptcy? According to Autocar, one sticking point is that Ford does not want Volvo platforms being used by other automakers. A good deal of Ford products share their underpinnings with Volvo sedans and Ford is concerned that its intellectual property could end up in the wrong hands.

[Source: Autocar]

Geely reportedly interested in Volvo Cars originally appeared on Autoblog on Thu, 18 Dec 2008 09:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>geelygeely volvoGeelyVolvosaicsaic volvoSaicVolvovolvovolvo saicvolvo salevolvo sale chinavolvo sale chineseVolvoSaicVolvoSaleVolvoSaleChinaVolvoSaleChineseThu, 18 Dec 2008 09:01:00 EST<![CDATA[Volvo still wants to compete with the Germans, despite rumors of sale]]>http://www.autoblog.com/2008/07/07/volvo-still-wants-to-compete-with-the-germans-despite-rumors-of/http://www.autoblog.com/2008/07/07/volvo-still-wants-to-compete-with-the-germans-despite-rumors-of/http://www.autoblog.com/2008/07/07/volvo-still-wants-to-compete-with-the-germans-despite-rumors-of/#commentsFiled under: , ,



Ford says Volvo's not for sale, and the Blue Oval would be smart to hold on to its remaining vestige of the Premier Auto Group as long as it can, especially since engineering and platforms have become so entwined with Dearborn's product line. For its part, Volvo is angling to take on the high end Germans. Volvos have long been premium products, having built a reputation on exceptional durability, meticulous engineering, and of course, safety. Try as it might, however, Volvo has a hard time competing head on with BMW, Audi and Mercedes. The cachet of the Swedish automaker is diminished compared to the Germans, and dynamically, Volvos tend to get schooled hard despite being good, capable drivers when taken alone.

Operations chief Steven Armstrong tells Automotive News that Volvo is looking to be mentioned in the same breath as its intended targets, even as losses mount and layoffs ensue. Volvos already occupy the same pricing arena as the premium Germans, but that's partly due to a weak dollar and transport costs. The possibility of building its cars in the United States might bring prices down and allow better developed performance versions, versus the outclassed R models of the past. Also hurtful is the model range's appetite for fuel -- we've gotten mileage in the teens from some Volvos in the Autoblog Garage. Armstrong says that the fuel economy issue will be addressed soon as technologies like start-stop, energy recovery from braking, and further down the road, hybrid powertrains are brought to market. Green is a good way for Volvo to go, given the Scandinavian proclivity for low-impact, gentler consumption. What it all means is that soon, we may see a kinder, gentler, meaner, faster Volvo product lineup -- possibly managed by Russian, Chinese, or Swedish owners.

[Source: Automotive News - sub req.]

Volvo still wants to compete with the Germans, despite rumors of sale originally appeared on Autoblog on Mon, 07 Jul 2008 11:33:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>volvovolvo bmwvolvo mercedesvolvo salevolvo sale chinavolvo sale chinesevolvo sale russiavolvo upscaleVolvoBmwVolvoMercedesVolvoSaleVolvoSaleChinaVolvoSaleChineseVolvoSaleRussiaVolvoUpscaleMon, 07 Jul 2008 11:33:00 EST