On the tail of news that GM Motors is selling Saab, Ford announced that it has a tentative agreement to sell Volvo to Chinese company Geely with a deal expected to be finalised in the Spring. Regarding the deal, Geely Automobile Holdings Ltd has reportedly said that Volvo will likely remain a separately managed brand for now.

“The group intends to separately develop the Geely and Volvo brands until an appropriate time when we might combine their operations,” Mr. Gui is reported to tell reporters after a Geely shareholders’ meeting.

Following the sale of Land Rover, Jaguar and Aston Martin, Volvo is the last of Ford’s Premier Automotive Group (PAG) brands to go and will give the Chinese firm a vital foothold in the European market.

Volvo has long been regarded by many as being at the forefront of safety engineering and has brought us several milestones. Of note is the Volvo PV544 classic car which in 1959 was the first car to feature three-point seat belts, and the first to have any kind of seat belt as standard equipment.

Sureterm Direct specialise in the insurance for classic cars. Call us for FREE on 0800 999 2030 and speak to one of our specialists today.

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