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In the early 1970s, Volvo acquired
the car-making division of the Dutch company DAF, and marketed their
small cars as Volvos before releasing the Dutch-built Volvo 340, which
went on to be one of the biggest-selling cars in the UK market in the
1980s.
Volvo, as one of the largest truck manufacturers in the world, took
the initiative to sell its automobile manufacturing in 1998 in order
to fully focus its efforts on the market for commercial vehicles.
Ford, on the other hand saw advantages in acquiring a profitable
prestige midsize European automobile manufacturer, well renowned for
its safety aspects, as an addition to its Premier Automotive Group.
The buyout of Volvo Cars was announced on January 28, 1998 and in the
following year an acquisition was completed at a price of $6.45
billion USD.
As a result of the divestiture, the Volvo name is now utilized by two
separate companies:
Volvo - a manufacturer of commercial vehicles, etc. owned by Swedish
interests.
Volvo Cars - a manufacturer of automobiles owned by Ford Motor
Company, in its Premier Automotive Group.
The Volvo™ trademark is now jointly owned (50/50) by Volvo and Ford.
One of the main promotional activities for the trademark is the
sailing contest Volvo Ocean Race, formerly the Whitbread Around the
World Cup. There is also a Volvo Baltic Race.
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Volvo Cars and Parts
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