Posted on March 28th, 2010 • by David Zatz
Detroit News reported today that Ford had signed an agreement to sell the Volvo car division, which it acquired in 1999 for $6.5 billion, to the Zhejiang Geely Holding Group of China, for $1.8 billion. Geely will acquire Volvo’s intellectual property, which includes advanced engine, quality, and safety technology, filling gaps in the Chinese auto [...]
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Posted on January 9th, 2009 • by Bill Cawthon
Cerberus may want to re-think one of its potential exit strategies from its ownership of Chrysler: selling brands like Jeep. Piecemeal sales don’t seem to be attracting much interest these days, even at fire sale prices. General Motors announced today that it has been unable to find a buyer for Saab. This follows on its [...]
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Posted on December 11th, 2008 • by David Zatz
The Swedish government may provide $3.4 billion in aid to its two automakers, Volvo and Saab (owned by Ford and GM), which employ around 20,000 people within the country. The plan, which must be approved by the parliament, includes loans, loan guarantees, and research funds. No demands were made on the two companies to slash [...]
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Posted on December 2nd, 2008 • by David Zatz
While some automakers have not reported in yet, all the others have declared losses in U.S. sales (November 2008 vs November 2007): BMW: down 27% Chrysler: down 47% Ford: down 33% (including Volvo, down 47%) GM: down 41% Honda: down 32% Isuzu: down 74% (from 496 to 130 units) Mazda: down 31% Mercedes: down 30% [...]
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Posted on November 4th, 2008 • by Bill Cawthon
As predicted, October’s U.S. light vehicle sales weren’t pretty. A tough economy and severely tightened credit produced a seasonally adjusted annual rate of just 10.56 million sales, the lowest SAAR since February 1983. Combined reported sales numbers missed even September’s anemic levels, coming in at about 838,000 units, 130,000 units less than last month and [...]
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Posted on November 3rd, 2008 • by David Zatz
The Big Four – Toyota, General Motors, Ford, and Honda – experienced plunging car sales in the United States in October 2008. The once mighty General saw sales fall by 45% compared with October 2007; Toyota, the world’s largest automaker, saw sales fall by 23%; and Ford saw a decline of 32%, with its captive [...]
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