Geely to Acquire Volvo by Early 2010
December 16, 2009
Saab might not be going entirely to BAIC but another American-owned European will be shipped to China.
Zheijiang Geely Holding will be completing its takeover of Ford Motor Company’s Volvo group early next year.
Ford is the only member of the Detroit 3 not to declare bankruptcy or be sold. Still, Ford had a tough year seeing a drop in its revenue due to the auto sales drop. Hyundai has overtaken Ford to be the fourth largest automaker in the world.
Ford controls several divisions and subsidiaries including Mercury, Lincoln and Mazda but the sale of Volvo means that Ford will not be controlling any badge.
Geely is said to acquire Volvo for its $1.8 billion value.
Formula 1: Brawn GP Completes 1-2 in Italy
September 14, 2009
Brawn continues to assert its dominance in this season’s Formula One championship after orchestrating a magnificent 1-2 finish. Rubens Barichello clinches yet another victory while team mate and points leader Jenson Button secures his first podium in six races.
Major disappointment still for defending champion Lewis Hamilton who comfortably secured pole position for Team McLaren but crashed out late in the race. Hamilton dropped back due to strategy and crashed during the final lap trying to give Button the business.
Rounding up the podium finishers is Ferrari’s Kimi Raikkonen. At fourth is Force India’s Adrian Sutil. At fifth is Renault’s Fernando Alonso and at sixth is Hamilton’s team mate, Heikki Kovalainen. Newly-signed Giancarlo Fisichella (coming from Force India) continues Ferrari second driver curse finishing ninth.
With the win, Brawn GP opened up a comfortable lead over rivals Red Bull with Mark Webber crashing out on the first lap and Sebastian Vettel placing eighth. Button saw his lead cut by 2 to 14 points over Barichello who is 12 points clear of Vettel.
Four races left for the season and the drama begins to heat up.
Volvo C30 Unveiled
September 9, 2009
I really appreciate automakers who release details of their motor show debutantes before the show. Volvo just does that with the new facelifted Volvo C30.
Powering the car is a wide array of engines including five diesels and three gasoline engines. The diesel choices power outputs range from 107 bhp to 177 bhp. The gasoline engines output from 96 bhp to 227 bhp.
That only means that you got to be wary of challenging C30s while at a red light while driving pocket drivers. You might be up against one with 227 bhps.
Ecomentalists might want to spring for any one of the two DRIVe eco models that pack the 1.6L diesel engine. The prime difference between the two models is the start-stop system. The one that has it gets 72.4 mpg and the other one gets 62.8 mpg.
Source: Autocar
Volvo Sees Opportunity in Economic Crisis
January 29, 2009
While Volvo has problems of its own, the Swedish car manufacturer still sees a way to benefit from the current global economic crisis affecting practically every other automotive company—be serving as an alternative to rivals BMW and Audi. Volvo is styling itself as “a more socially-acceptable brand,” according to Chief Operating Officer Steve Armstrong.
“We have a real opportunity for Volvo with respect to premium positioning,” added Armstrong. “As people cut back, it becomes a little less acceptable to flaunt your money.” That’s where Volvo comes in. With their relatively cheaper price tags, pride in the brand’s safety, and adequate features in every model, Volvo hopes to give consumers a lot of incentive at a more convenient price tag.
“Buyers who still want to reward themselves but don’t want to be ostentatious give us a great opportunity,” Armstrong said.
Of course, Volvo is still mired in some problems. Last year, Volvo’s sales were down 31 percent from 2007. Ford, Volvo’s majority owner, is seeking buyers for the brand. This period is critical for Volvo’s success, and the company wants to take full advantage of it.
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Volvo Design Chief Quits
January 1, 2009
Steve Mattin, Design Director at Volvo Cars, has quit the Ford-owned Swedish car manufacturer. Ford confirmed Mattin’s departure.
The British-born design director started at Volvo back in 2005, and he is generally regarded as the one responsible for giving Volvo’s vehicles its current identity. Volvo’s corporate look surfaced with the C30 small coupe, and before long we started seeing design such as that of the curvaceous XC60 compact crossover SUV.
Prior to his design stint at Volvo, Mattin worked for 17 years on Mercedes’ design team, working on such esteemed projects as the SLK, SLK R-Class, and Maybach. After then-Volvo design chief Peter Horbury was promoted to head Ford’s North American design arm, Mattin was elevated to head Volvo’s design team.
As if Volvo didn’t have enough issues to deal with at the moment. Its impending sale from Ford is being considered as one of the reasons for Mattis’ departure.
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