Volvo is bought by Ford
The first Volvo model rolled off the production line in Gothenburg in 1927. Since then, the Volvo Car Group has been continuously delivering new models that feature world-wide innovations. Today Volvo is one of the most famous car brands in the world, whose models are sold in over 100 countries.
The Volvo Car Group (Volvo Cars) has been part of the Chinese Zhejiang Geely Holding (Geely Holding) since 2010. Volvo Cars was part of the Swedish Volvo Group until 1999, before the company was sold to the Ford Motor Company. In 2010, Geely Holding acquired Volvo Cars.
The name "Volvo" is owned by Volvo Trademark Holding AB, jointly owned by Volvo Cars and AB Volvo.
The corporate strategy "Designed Around You" puts people first. It forms the basic framework and the guideline for all businesses, products and the corporate culture.
Regional companies and national sales companies with around 2,300 dealers in over 100 countries market and sell the Volvo models. Most dealers are independent companies. Volvo Cars employs a total of more than 22,500 people around the world (as of December 31, 2012).
Volvo produces premium vehicles: sedans (S60, S80), station wagons (V40, V60, V70), SUVs (XC60, XC70, XC90) and coupes and convertibles (C70).
In 2012, Volvo sold 421,951 cars worldwide. The global market share is between one and two percent. 16 percent of total sales in 2012 came from the USA, the largest market for Volvo. This is followed by Sweden (12 percent), China (10 percent), Germany (7.5 percent) and Great Britain (7.5 percent).
Volvo Cars is headquartered in Gothenburg, Sweden. Most of the product development, marketing and administration are also located there. Since 2011 the company has also had offices in Shanghai and Chengdu in China. In addition to the new Chinese headquarters of Volvo Cars, there is also a technology center in Shanghai.
In addition to the two vehicle production plants in Gothenburg (Sweden) and Gent (Belgium), Volvo has been manufacturing engines in Skövde, Sweden, since the 1930s. Vehicle components have been manufactured in Floby since 1957, body parts in Olofström (both Sweden) since 1969. The company also has an assembly plant in Kuala Lumpur (Malaysia) and builds vehicles in Chongqing (China), one of Changan Ford Automobile Co. Ltd. operated production facility.
In the second half of 2013, a new plant in Chengdu (China) will also start production. Cars for the Chinese market roll off the production line on site.
With the corporate strategy "Designed Around You", Volvo aims to expand its sales to 800,000 vehicles worldwide by 2020. China is set to become the company's second home market for growth.
Chongqing, China (Changan Ford)
Chengdu, China (production will start in the second half of 2013)
Kuala Lumpur, Malaysia
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