Ford has been proactive in getting rid of ailing assets lately, including included Jaguar, Land Rover, and even Aston Martin.
But one brand that Ford has been slow to remove from its umbrella is Volvo. The Swedish automaker has not attracted promising offers, but recent reports suggest that Chinese automaker Geely is currently a front-runner to purchase Volvo.
News sources in China have reported that Geely has submitted a letter of intent to purchase the company from Ford. However, Ford has not yet released any details regarding a potential purchase notes St Paul Used Cars, but no other names of potential buyers have yet surfaced.
With Volvo suffering from layoffs and sales setbacks, Boston Auto Loans suggests the automaker could benefit from producing cars in Geely facilities in China. The reported offer will include a total investment of up to $10 billion. In addition to potential China-based production facilities, Geely also hopes to assist in the development and deployment of the next generation XC90, which should reach Nashua Volvo Service showrooms within two years.
While Ford has recently denied the sale, and Volvo remaining silent on the issue, Geely appears to be the most likely candidate as a potential buyer. Volvo Service Jersey City points out that other Chinese automakers have also been mentioned as viable buyers.
Since the Swedish government has pledged loans to the automaker to help it limp through the current recession, Volvo New York believes the Volvo brand has become somewhat more attractive for potential buyers. For a Chinese automaker, the Volvo brand would be quite attractive as Volvo has a fairly large dealer network within the lucrative North American auto market, which Chinese automakers have yet to gain. As Volvo’s estimated value continues to plummet, it’s likely that Ford wants to see a sale sooner rather than later.Volvo Dives into Plug-in Hybrid Technology
Volvo has been struggling amid slumping global sales, but that hasn’t stopped the automaker from diving into research and development. One such as product of its R&D efforts is a new plug-in hybrid that will be due by 2012. Volvo has committed itself to producing a high mileage diesel-electric plug-in hybrid, but it has yet to confirm its plans to sell the vehicle in the U.S.Lexus ES Still Critical to Luxury Brand Lineup
As one Lexus’ most popular models, there will be plenty of drivers that will be happy to see a revamped Lexus ES 350 coming to showrooms later this month. While it may not be a full redesign, the updating certainly brings needed enhancements.2010 Toyota Prius Gets Good Start Here and in Japan
While it wasn’t the first hybrid car available to the masses, the Toyota Prius quickly became the the most successful hybrid car worldwide. On the heels of unparalleled sales success, Toyota is rolling out the much anticipated, all-new 2010 Prius at dealers nationwide. However, with 180,000 orders for the hybrid in Japan already, success seems to be putting a strain on Toyota.