Volvo Cars

Volvo Cars

Volvo Car Corporation, or Volvo Personvagnar AB, is a Scandinavian automobile manufacturer founded in 1927, in Gothenburg, Sweden. It is owned by Zhejiang Geely Holding Group. Volvo was originally formed as a subsidiary company to the ball bearing maker SKF. When Volvo AB was introduced on the Swedish stock exchange in 1935, SKF sold most of the shares in the company. Volvo Cars was owned by AB Volvo until 1999, when it was acquired by the Ford Motor Company as part of its Premier Automotive Group. Geely Holding Group then acquired Volvo from Ford in 2010.

Volvo manufactures and markets a range of SUVs, station wagons (estates), and sedans (saloons), compact executive sedans and coupes. With approximately 2,300 local dealers from around 100 national sales companies worldwide, Volvo Cars' largest markets are the United States, Sweden, China, Germany, the United Kingdom, and Belgium. In 2011, Volvo recorded global sales of 449,255 cars, an increase of 20.3% compared to 2010.