08 Volvo C70 T5 Hard Top Convertible - Leather, Nav, Low Miles, Immaculate on 2040-cars

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Junkyard Gem: 1994 Volvo 850 Turbo Wagon

Volvo began selling brick-shaped rear-wheel-drive station wagons in the United States with the 145 in the 1968 model year, continuing the tradition with the 200, 700 and 900 series wagons and all the way through the very last 1998 V90s. The benefits of front-wheel-drive proved impossible for those Goteborgers to resist, though, and so the 850 was developed. The 850 sedan first appeared in the United States as a 1993 model, with the wagon version following in 1994. Today's Junkyard Gem is one of those first-year 850 wagons, found in a Colorado Springs self-service yard recently. The 850 wasn't the first production Volvo with front-wheel-drive (the 1986 Volvo 480 beat it to European showrooms), but it was the first one available on our continent. The base 1994 Volvo 850 wagon for the U.S. market had a 2.4-liter DOHC straight-five rated at 168 horsepower and 162 pound-feet, but this car has the turbocharged version with its 222 horses and 221 pound-feet. American buyers of the 1994 Volvo 850 had the choice of a five-speed manual or a four-speed automatic. Most took the automatic. This car is a loaded model with power sunroof and other goodies in addition to the slushbox, so its MSRP was $30,985 (about $66,194 in 2024 dollars). This was a bit less than a similarly equipped 960 wagon (which listed at $34,950, or $74,665 after inflation). The antiquated but reliable 240 wagon had been discontinued the year before, with the 740 wagon getting the axe the year before that). This car just made it past the 200,000-mile mark during its career on the road. That's respectable, though I've found discarded Volvos that made it beyond 400,000 miles (and one that got to 631,999). The interior looked pretty good before someone smashed all the windows. Perhaps vandalism sent a running car to this place. Someone was kind enough to write down the security code on the factory radio. Drive safely. For those of you who hate to commute but adore driving.

Geely to sell $1.3 billion of Volvo Truck shares

China’s Zhejiang Geely Holding Group is selling the entirety of its Class B shares in truckmaker Volvo AB that were worth 14.46 billion Swedish krona ($1.32 billion) at the close of trading in Stockholm. In a statement, Geely said the divestment is “in accordance with its long-term strategy” and that it will remain VolvoÂ’s second-largest investor with 88.5 million A shares. “Geely HoldingÂ’s strategic adjustment and inclusion of AB Volvo in its automotive manufacturing and investment portfolio is part of the groupÂ’s risk management and diversified investment strategy,” the company said.   Geely is offering the 49.5 million shares through BofA Securities, Goldman Sachs Bank Europe and Barclays, according to a term sheet. The Sweden-based holding company that owns GeelyÂ’s stock guided that itÂ’s selling for SEK285.9 a share, a more than 2% discount from its closing price. Volvo reported first-quarter operating profit that beat analystsÂ’ expectations on Wednesday, as the truckmaker offset waning orders by charging higher prices. The company has been reducing production as demand returns to more typical levels following a post-pandemic recovery period. Its shares have advanced 12% this year. Geely pared its stake in Volvo in January and also sold some of its holding in Volvo Car AB in November. The holding company behind one of ChinaÂ’s most prominent carmakers early this year had to bail out Polestar, the struggling electric-vehicle manufacturer it started along with Volvo Car.   Earnings/Financials Volvo Truck Commercial Vehicles volvo trucks

Volvo agrees to transfer tech to new parent Geely

Following the acquisition of Volvo by China's Zhejiang Geely Holding Group in 2010, we definitely saw this news coming. The two companies have signed an agreement that will give Chinese automaker Geely access to key technologies developed by Volvo, and in turn, the deal could help the Swedish automaker lower its production costs.
As a part of the "technological cooperation agreements" signed by both companies, Automotive News China reports that Geely will be able to tap Volvo for three much-needed technologies, including the use of a midsize platform, Volvo's proven safety innovations and interior air quality systems. The latter two technologies are important to improve the crashworthiness of Geely's cars, along with helping isolate vehicle occupants from China's often severe air pollution. The report says that Volvo tech will likely be used on a premium car brand that Geely is expected to create.
Volvo, on the other hand, is to benefit from the "local market exploration experience and cost control experience" of Zhejiang Geely Holding Group, which is technical way of saying that Volvo will be able reduce its costs by tapping into Geely's established supply chain.