LadyAngelika -> The tectonic plates aren't the only things shifting - Volvos are now Chinese (3/28/2010 5:03:33 PM)
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From The Economist Online: quote:
IT TOOK more than a decade for Ford to create what it called its Premier Auto Group around a bunch of classy European brands—starting in 1987 with its purchase of Aston Martin, followed by the acquisitions of Jaguar, Volvo and then Land Rover. It all proved a terribly expensive distraction. Now, it has taken Ford three years of tricky negotiations to dismantle the group, selling the European marques at a considerable loss. Aston Martin went to a British-led consortium in 2007, Jaguar Land Rover (JLR) was snapped up by Tata of India in 2008 and, on March 28th, a deal was signed to sell Volvo to Geely, a small but vastly ambitious Chinese carmaker. I grew up in Volvos, learned to drive on a Volvo, back when they were Swedish cars! The sale to Ford was strategic for the carmaker but now, wow, why does it feel like a liquidation sale? I'm telling you, very soon you'll crack open a fortune cookie and it's going to say: "Time to pay up!" - LA
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