New Volvo  Average Saving £5,803

New Volvo  Average Saving £5,803

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History of Volvo

Gothenburg, Sweden was the birthplace of Volvo, where their car was built at the Volvo factory in 1927. In early 1928, their first truck, the Series 1, was launched to immediate success, attracting attention from overseas. After strong sales in 1930, Volvo began to export their cars to other parts of Europe, although they did not become widespread until after the war.The B1 was Volvo’s first bus, and was launched in 1934, and was one of the many vehicles that made use of aircraft engines. These were provided by Pentaverken, following Volvo’s acquisition of the company in 1935. In 1963, the Volvo Halifax plant was opened in Canada.The Volvo group sold their car division to Ford Motor Company for $6.45 billion in 2000, and was placed in Ford’s range next to Jaguar, Land Rover and Aston Martin. Ford utilised Volvo resources in various Ford, Land Rover and Aston Martin vehicles. The Volvo T5 engine in particular was implemented in the construction of the Ford Focus ST and RS performance models. Volvo was then sold on in 2010 to Chinese manufacturer Geely Automobile for $1.8 billion.Renault became a Volvo stakeholder after selling their truck division to Volvo in 2001. Volvo later renamed their acquisition Renault trucks, and in 2006, also bought a 13% share in Japanese truck company UD trucks, formerly Nissan diesel. This was followed by a complete buyout of Nissan Motor Company Ltd. the next year in order to gain larger market share of the Asian Pacific market.

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