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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

Five vehicles named Top Safety Pick+ including new Civic, MKZ

In an attempt to help push vehicle safety to a higher level, the Insurance Institute for Highway Safety created a stricter Top Safety Pick+ rating last year, which incorporates a brutal small overlap test and requires cars to get Good ratings in four out of the five categories (and no less than Acceptable in the fifth). Joining the list of the safest cars of 2013, the 2013 Volvo XC60, Lincoln MKZ, Honda Civic (sedan and coupe) and the 2014 Mazda6 have all received the coveted TSP+ rating.
The Mazda6 and Lincoln MKZ have both been completely redesigned, and both received Acceptable ratings in the small overlap test. The Honda Civic, coming off its emergency refresh for 2013, is the first small car to be subjected to the small overlap test, and IIHS says that one of the car's many upgrades includes a stiffer front structure allowing it to receive Good ratings in all categories. Similarly, the XC60 gets all Good ratings thanks to, according to IIHS, Volvo updating the airbag software allowing the side airbags to inflate during the small overlap test.
The 2014 Subaru Forester has not yet been subjected to the small overlap test, so it must make do with just a Top Safety Pick rating until the IIHS tests small utility vehicles, which is expected to happen later in the spring.

2021 Volvo XC90 Recharge Road Test Review | I could've had a T8!

Second thoughts … sometimes even buyerÂ’s remorse. Nagging doubts can follow life's big decisions — and buying a car is a biggie. Was it the right choice? Or as the poet said: "You may find yourself behind the wheel of a large automobile / And you may ask yourself, 'Well, how did I get here?'" Two years ago, I bought a 2017 Volvo XC90 lease return with 11,000 miles on it. I hadnÂ’t expected to find an XC90 within my budget, but this one was attractively priced because it, A) was a T5, meaning turbo-only; B) had the base Momentum interior; and C) was a third-row delete, which was a turnoff to other car shoppers. Otherwise, it was heavily optioned and seemed like it would serve my family well and keep them safe. And it has. It has lots of room. It drives as well as any medium-large SUV can. The tough leatherette endures the abuse of dogs and kids and the dirt of outdoor activities. The legendary Volvo seats have comforted and supported us, even on a 750-mile day from California to Washington. We've routinely seen highway mileage go past 30 mpg. And the off-road mode was surefooted during last month's nationwide snowfall. The carÂ’s great. And yet, while at the Volvo dealership for complimentary service, sipping the waiting-room coffee and wandering the showroom, you see the cars you could have bought, had you spent more money — a turbo-and-supercharged T6, or the twin-charged-plus-plug-in-hybrid Recharge (previously known by the powertrain's name of T8). And with Volvo's elegant Inscription interiors. Would they have provided a better ownership experience than our secondhand lower-rung model? One doesnÂ’t often get a do-over to answer such questions. But a recent week in a 2021 Volvo XC90 Recharge provided a drive down the nicer road not taken. The differences between a 2017 T5 Momentum and the 2021 Recharge Inscription are many, and also few. They're basically the same car, same dimensions inside and out, same overall feel. Panoramic sunroof, same. Massive cargo hold, same — though because ours lacks the third row, it gains a large secret underfloor storage compartment. Both XC90s have roof rails, but the rails on the new car are flush-mounted versus the '17's raised rails (youÂ’d need different crossbar towers for each).