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Volvo History

Volvo Cars is a Swedish luxury vehicle manufacturer established in 1927 and headquartered on Hisingen, in Gothenburg. Since 2010 it has been a wholly owned subsidiary of Geely of China, but the company is being prepared for stock market flotation.[citation needed] Volvo Cars was founded as a subsidiary of the ball bearing manufacturer SKF.[1] When AB Volvo was introduced on the Stockholm stock exchange in 1935, SKF sold most of the shares in the company. Volvo Cars was owned by AB Volvo until 1999, when it was sold to the Ford Motor Company as part of its Premier Automotive Group. In 2010, the Geely Holding Group then acquired Volvo Cars from Ford. Volvo Cars manufactures and markets sport utility vehicles, station wagons, sedans, compact executive sedans, and coupes. With approximately 2,300 local dealers from around 100 national sales companies worldwide, Volvo Cars' largest markets are China, the United States, Sweden, and the other countries in the European Union. Volvo company was founded in 1927, in Gothenburg, Sweden, The company was created as a subsidiary company 100% owned by SKF. Assar Gabrielsson was appointed the managing director and Gustav Larson as the technical manager. Cars are driven by people. The guiding principle behind everything we make at Volvo, therefore, is and must remain, safety — Assar Gabrielsson and Gustav Larson 1927 The trademark Volvo (which is Latin for I roll) was first registered by SKF the 11 May 1915 with the intention to use it for a special series of ball bearing for the American market but it was never used for this purpose (however in the application for the trademark, it was also designated for the purpose of automobiles). SKF trademark as it looks today was used instead for all the SKF-products. The first Volvo car left the assembly line on 14 April 1927, and was called Volvo ÖV 4. After this the young company produced closed top and cabriolet vehicles, which were designed to hold strong in the Swedish climate and terrain. In the registration application for Volvo logotype in 1927, they simply made a copy of the entire radiator for ÖV4, viewed from the front. Volvo Car Corporation was part of Ford Motor Company's Premier Automotive Group (PAG), along with Jaguar, Aston Martin and Land Rover. While part of the PAG, the company grew in its range of vehicles significantly. When the global economic crisis of 2008 threatened the US automakers, Swedish authorities became concerned about the fate of Volvo if Ford would file for bankruptcy. These concerns mounted after repeated mass-layoffs at Volvo. Ford announced in December 2008 that it was considering selling Volvo Cars. Initially, a sale price of US$6 billion was reported. Ford Motor Company offered Volvo Cars for sale in December 2008, after suffering losses that year.[23] On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was Zhejiang Geely Holding Group, the parent of Chinese motor manufacturer Geely Automobile.It is the largest overseas acquisition by a Chinese automaker. Many remember Volvo from the TV show the Saint that saw Roger Moore driving a P 1800. An immediate classic. For availability and licensing inquiries, please contact: https://www.globalimageworks.com/contact Ref: S642