Struggling Volvo may be on a verge of a renaissance thanks to the forthcoming completion of its lauded concept car trilogy, new Drive-E engine family and much-discussed SP
Volvo is poised to rapidly inflate its presence in China, and it believes the way forward is through an $11 billion spending plan. "We want to revive Volvo and give the brand its strength back," says Li Shufu, Chairman of Geely Automobile Holdings. Speaking with German magazine Wirtschafts Woche, Shufu disclosed that Geely will put up $11 billion for a new
2010 Volvo C30 – Click above for high-res image gallery
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Times are tough for Sweden's safest automaker. Ford-owned Volvo has seen its sales decline by alarming amounts so far this year. In fact, in last month's By The Numbers post, the automaker's 51.8% drop in U.S. sales trailed only HUMMER's stratospheric plunge. Fewer cars produced means fewer workers are needed, and with numbers like that, it's no wonder that Volvo needs to cut the rank and file a
Volvo, once the success story in Ford's Premier Automotive Group, has hit choppy waters. And according to Wall Street Journal insiders, Ford is preparing to treat the Swedish automaker the same way it did the English ones: slap some floaties on it and keep the brand bobbing long enough to sell it.