Ford Selling Volvo to Chinese Company Geely

Rich — Thu, 24 Dec 2009 01:23:25 +0000

Volvo was the car that was safe, boring and something that your friend’s parents drove. That was when safe meant dull, boring and I hope nobody sees me in this car.

Then they started to get a bit sporty when they paid top-dollar to have their new Volvo C70 coupe featured in the Val Kilmer movie, The Saint. Sales weren’t great, as they were competing against the Nissan Z, the Toyota Supra and Mazda RX, but they did have the cool-factor.

Volvo C70 in The Saint with Val Kilmer

The SUV craze hit and Volvo was there once again – not as a market leader but a company with a presence and a company that still pushed their safety records. Volvo was moderately cool, less dull and just as safe as our parents’ Volvo.

Owned by Ford, Volvo has been a money-loser and Ford has been seeking a buyer, and since neither General Motors or Chrysler are in the market for another under-performing car line, it was clear that either an overseas buyer would have to step up, or the brand would cease to exist similar to Saturn’s demise earlier this year. Volvo’s price tag is in the $2 billion range.

Volvo Will Now Be A Chinese Company

It was announced today that the apparent new owner of the Volvo brand name will be a Chinese company named Geely Group. Swedish car made in China. Something is really wrong with this picture.

I have no issue with Chinese-made goods, in fact I am sure I am wearing something made in China at this very moment, I have a computer monitor made in China, and use cookware made in China on most nights. I don’t place my family in any of these Chinese-made items and travel at 65 mph down the highway, that’s the difference.

Let’s be real here, China has no semblance of laws when it comes to copyright laws – they are the global leaders in counterfeit goods, they have little or no litigation, and they have very little quality control. I am not China-bashing here, just pointing out reality: Chinese goods are generally cheaper than other goods for a reason – cheap unchecked labor and no laws governing consumer protection.

I would buy a Korean-made car before I buy a Chinese-made car, and I won’t buy a Korean car. Socks, televisions, staplers, telephones, basic electronics, fine. A Volvo from China? Sorry, Charlie.

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Ford Selling Volvo to Chinese Company Geely

Volvo Will Now Be A Chinese Company