Geely in talks to buy Volvo

[Marquee]

Feb. 5 (Bloomberg) -- Ford Motor Co., seeking to raise cash to avoid a federal bailout, is in preliminary talks to sell its Volvo Car unit to Geely Automobile Holdings Ltd., according to three people familiar with the discussions.

 

Ford will likely get less than the $6.4 billion it paid for Volvo in 1999, said one of the people, who declined to be identified because the talks are ongoing. Ford has also approached Chery Automobile Co. and Chongqing Changan Automobile Co., the people said.

 

Dearborn, Michigan-based Ford lost a record $14.6 billion last year and is trying to avoid asking for government loans to survive as U.S. auto sales plunge to the lowest level in almost 27 years. A purchase of Ford

[Desnck]

will China become No 1 Car Manufacturer in the world 10 years later? why Japan car maker don buy Volvo, BMW , Benz, Audi?

[Application9999]

If India TATA can buy over Jaguar...not surprise Geely can do it too.....Time are bad...luxury car maker eat grass and budget car maker is still staying alive.....

[Tigershark1976]

if proton can buy lotus.... why not geely? volvo is just another company that keep loosing money.

Edited February 5, 2009 by Tigershark1976

[Freifeit]

i hope this deal will not get thru..

[Bird5011]

Better to buy lah....

It's Dog eats Dog world..

[Spurman]

will China become No 1 Car Manufacturer in the world 10 years later? why Japan car maker don buy Volvo, BMW , Benz, Audi?

 

Come on lar, world is evolving liao, yrs ago, maybe 20yrs back, no one will ever tink a chinese firm can buy over Volvo, BMW, etc..

 

The big boys get complacent, loses their focus, and now get bailed out by newer players..

 

Its the same not just for car firms, but also to most industries.

[Stary]

will China become No 1 Car Manufacturer in the world 10 years later? why Japan car maker don buy Volvo, BMW , Benz, Audi?

 

It's just a matter of time.

 

World evolves and we just have to go with the flow.

[Donut]

China will take over America as economy power.

 

China is damm cash rich and has lots of reserves, unlike US.

 

very soon, you may see RMB as the trading currency. Nobody wants US$ liao

[Silver_z]

Wow!! If Chery buys Volvo, will errmmm..... whats that dude's name?? DK issit? come and brag about his A1** dunno what number.

[Bobarry]

lol.........