Chinese close to buying Volvo
Re: Chinese close to buying Volvo
Well I never I thought I'd see people wishing Ford kept Volvo. And I am not sure where you guys are seeing the "quality" of Volvo. I have two 850's and have never had to work on any car more then these cars. They take up a weekend a month. They are not reliable, last forever cars as many would have you think. Otherwise you would see them somewhere close to the top ten list (that is any top ten list) where a Volvo appears as being most relaible. Safe? Certainly. Utilitarian? For sure. Comfortable? Yep. Good in the snow? Yes. The positives drop off from there. Of course the Chinese will make it worse, just like Hummer (though I am not sure how they could make those worse).
2004 XC70
2005 S60 2.5T AWD (gone)
1996 850 GLT Wagon in Blue (gone)
1996 850 GLT Wagon in Green (gone)
2005 S60 2.5T AWD (gone)
1996 850 GLT Wagon in Blue (gone)
1996 850 GLT Wagon in Green (gone)
-
confused_al
- Posts: 1025
- Joined: 4 August 2008
- Year and Model: 1996 TLA wagon
- Location: NJ
I just saw this:
Ford Swings To 3Q Profit, Boosts 2011 Guidance
By JEFF BENNETT
Of DOW JONES NEWSWIRES
DETROIT -- Ford Motor Co. (F) reported a third-quarter profit Monday and said it would be "solidly profitable" in 2011 on cost cutting and a turnaround in its North American business.
The North American unit recorded its first operating profit in more than four years, helped by higher pricing and market share, though Ford warned that the end of government incentives in Europe market could severely dent industry sales next year.
The company reported a third-quarter profit of $997 million, or 29 cents a share, beating market expectations. This compared with a year-ago loss of $161 million, or 7 cents a share. The company's key North America automotive unit also posted a pretax profit of $357 million, and the positive cash flow of $1.3 billion in the third quarter compared with a $7.7 million cash burn in the same period a year ago.
The back-to-back quarterly profit provides the first real evidence that Ford may have turned the financial corner and will meet its goal of turning a full-year profit in 2011.
The Dearborn, Mich., auto maker changed its full-year 2011 guidance for the total company and its North America operations from being "breakeven or better" to "solidly profitable" on a pretax basis excluding special items with positive automotive operating-related cash flow.
Difficult challenges still remain in the fourth quarter and the start of 2010. Government-backed incentives, which sparked sales around the world, including the U.S. and Germany, are now over. The economic recession is slowing the company's recovery in the U.S. while pushing sales to historic lows in Russia.
"While the company has confidence that the global economy will be improving, the near-term growth outlook remains rather uncertain," Ford said in a statement. "Looking at 2010 there is a high likelihood of a substantial decrease in European industry volumes. This decrease could more than offset U.S. sales volumes which may improve somewhat from this past quarter's results."
Ford has culled billions in dollars of costs from its expense base, but the U.S. United Auto Workers are expected to announce Monday a rejection of contract concessions by the union's rank and file.
Ford Chief Financial Officer Lewis Booth said the near-term outlook remains challenging an the company won't know the full-impact of sales without the scrappage programs until next year.
Still, Booth expects the auto maker to report a positive cash flow in the fourth quarter and he expects Ford Credit to remain profitable during the last three months of the year
He declined to comment on the UAW contacts and said the company is in "strong talks" to sell its Volvo unit to China's Geely Automobile Holdings Ltd.
Ford reported profits in all of its divisions except the Volvo unit which narrowed its pre-tax operating loss to $135 million compared with $458 million for the same period a year earlier.
Ford Swings To 3Q Profit, Boosts 2011 Guidance
By JEFF BENNETT
Of DOW JONES NEWSWIRES
DETROIT -- Ford Motor Co. (F) reported a third-quarter profit Monday and said it would be "solidly profitable" in 2011 on cost cutting and a turnaround in its North American business.
The North American unit recorded its first operating profit in more than four years, helped by higher pricing and market share, though Ford warned that the end of government incentives in Europe market could severely dent industry sales next year.
The company reported a third-quarter profit of $997 million, or 29 cents a share, beating market expectations. This compared with a year-ago loss of $161 million, or 7 cents a share. The company's key North America automotive unit also posted a pretax profit of $357 million, and the positive cash flow of $1.3 billion in the third quarter compared with a $7.7 million cash burn in the same period a year ago.
The back-to-back quarterly profit provides the first real evidence that Ford may have turned the financial corner and will meet its goal of turning a full-year profit in 2011.
The Dearborn, Mich., auto maker changed its full-year 2011 guidance for the total company and its North America operations from being "breakeven or better" to "solidly profitable" on a pretax basis excluding special items with positive automotive operating-related cash flow.
Difficult challenges still remain in the fourth quarter and the start of 2010. Government-backed incentives, which sparked sales around the world, including the U.S. and Germany, are now over. The economic recession is slowing the company's recovery in the U.S. while pushing sales to historic lows in Russia.
"While the company has confidence that the global economy will be improving, the near-term growth outlook remains rather uncertain," Ford said in a statement. "Looking at 2010 there is a high likelihood of a substantial decrease in European industry volumes. This decrease could more than offset U.S. sales volumes which may improve somewhat from this past quarter's results."
Ford has culled billions in dollars of costs from its expense base, but the U.S. United Auto Workers are expected to announce Monday a rejection of contract concessions by the union's rank and file.
Ford Chief Financial Officer Lewis Booth said the near-term outlook remains challenging an the company won't know the full-impact of sales without the scrappage programs until next year.
Still, Booth expects the auto maker to report a positive cash flow in the fourth quarter and he expects Ford Credit to remain profitable during the last three months of the year
He declined to comment on the UAW contacts and said the company is in "strong talks" to sell its Volvo unit to China's Geely Automobile Holdings Ltd.
Ford reported profits in all of its divisions except the Volvo unit which narrowed its pre-tax operating loss to $135 million compared with $458 million for the same period a year earlier.
96 850 Platinum Wagon
98 MB ML320
06 V70
95 850 GLT(RIP)
98 MB ML320
06 V70
95 850 GLT(RIP)
-
matthew1
- Site Admin
- Posts: 14479
- Joined: 14 September 2002
- Year and Model: 850 T5, 1997
- Location: Denver, Colorado, US
- Has thanked: 2655 times
- Been thanked: 1248 times
- Contact:
Good news.
I can't believe we're hoping Ford keeps Volvo.
I can't believe we're hoping Ford keeps Volvo.
Help keep MVS on the web -> click sponsors' links here on MVS when you buy from them.
Also -> Amazon link. Click that when you go to buy something on Amazon and MVS gets a cut!
1998 V70, no dash lights on
1997 850 T5 [gone] w/ MSD ignition coil, Hallman manual boost controller, injectors, R bumper, OMP strut brace
2004 V70 R [gone]
How to Thank someone for their post
Also -> Amazon link. Click that when you go to buy something on Amazon and MVS gets a cut!
1998 V70, no dash lights on
1997 850 T5 [gone] w/ MSD ignition coil, Hallman manual boost controller, injectors, R bumper, OMP strut brace
2004 V70 R [gone]
How to Thank someone for their post
In a purely business sense, Ford bought Volvo to turn it around and make it profitable. They accomplished that despite the Volvo loyalists displeasure with the purchase. They did so by making the brand appeal to a larger crowd. They did the same with Land Rover after BWM ran it into the ground. Same for Jaguar. Now that profits are dropping off, sell to the highest bidder. That is of course a purely business point of view.
2004 XC70
2005 S60 2.5T AWD (gone)
1996 850 GLT Wagon in Blue (gone)
1996 850 GLT Wagon in Green (gone)
2005 S60 2.5T AWD (gone)
1996 850 GLT Wagon in Blue (gone)
1996 850 GLT Wagon in Green (gone)
-
jblackburn
- MVS Moderator
- Posts: 14043
- Joined: 8 June 2008
- Year and Model: 1998 S70 T5
- Location: Alexandria, VA
- Has thanked: 9 times
- Been thanked: 19 times
While we're on the quality/reliability of Volvos...
here's a recent survey done that mentioned them:
My Volvo has certainly been more reliable than any other not-new car anyone in my family has ever owned. The current generation S40 (and I believe the previous generation as well) were ranked as one of the most reliable family cars sold in North America.
here's a recent survey done that mentioned them:
http://editorial.autos.msn.com/article. ... 555&page=1All of Volvo's sedans are average or better, but Volvo's XC90 SUV is below average.
My Volvo has certainly been more reliable than any other not-new car anyone in my family has ever owned. The current generation S40 (and I believe the previous generation as well) were ranked as one of the most reliable family cars sold in North America.
'98 S70 T5
2016 Chevy Cruze Premier
A learning experience is one of those things that says, "You know that thing you just did? Don't do that."
mercuic: Long live the tractor motor!
2016 Chevy Cruze Premier
A learning experience is one of those things that says, "You know that thing you just did? Don't do that."
mercuic: Long live the tractor motor!
-
xb corp
- Posts: 131
- Joined: 19 October 2009
- Year and Model: 855GT5 '96
- Location: Johor Bahru, Malaysia
i just wish that Volvo Trucks bail its long lost sister out....
wish to see them together again.
wish to see them together again.
'96 855GT5 324hp 386lb-ft
Nissan 16V turbo, HKS w/g, SS 2.5" d/p+FGK 3" exh, HKS Evo9 FMIC+2.5" piping, K&N, Apexi BOV, NA cams & t/b, portd head, 5 sub-injctrs, Mocal coolers, AMG 4pot 325mm, AVS 18", Bilstein B6/Vogtland
Nissan 16V turbo, HKS w/g, SS 2.5" d/p+FGK 3" exh, HKS Evo9 FMIC+2.5" piping, K&N, Apexi BOV, NA cams & t/b, portd head, 5 sub-injctrs, Mocal coolers, AMG 4pot 325mm, AVS 18", Bilstein B6/Vogtland
But don't forget the profits they made during the good years.brooks wrote:Ford paid 6.5B for Volvo, now selling for 2B. Seems like bad business to me. Recession is not the time to sell.
2004 XC70
2005 S60 2.5T AWD (gone)
1996 850 GLT Wagon in Blue (gone)
1996 850 GLT Wagon in Green (gone)
2005 S60 2.5T AWD (gone)
1996 850 GLT Wagon in Blue (gone)
1996 850 GLT Wagon in Green (gone)
I wish I had your experience, both of our Volvos have been maintenance headaches. These will be the last Volvos we own. The S40 is a European Ford Focus so I am not sure if that counts. Though I suppose, whatever the nameplate says.jablackburn wrote:While we're on the quality/reliability of Volvos...
here's a recent survey done that mentioned them:
http://editorial.autos.msn.com/article. ... 555&page=1All of Volvo's sedans are average or better, but Volvo's XC90 SUV is below average.
My Volvo has certainly been more reliable than any other not-new car anyone in my family has ever owned. The current generation S40 (and I believe the previous generation as well) were ranked as one of the most reliable family cars sold in North America.
2004 XC70
2005 S60 2.5T AWD (gone)
1996 850 GLT Wagon in Blue (gone)
1996 850 GLT Wagon in Green (gone)
2005 S60 2.5T AWD (gone)
1996 850 GLT Wagon in Blue (gone)
1996 850 GLT Wagon in Green (gone)
-
BIG DOG
- Posts: 107
- Joined: 8 October 2009
- Year and Model: 1996 855 turbo 5spd
- Location: Nova Scotia Canada
The Japanese made hondas and toyotas were really quite the pieces of junk when the arrived here.But now it seems everyone wants one the same might happen with the volvo in china.Stuff from Japan used to be junk but their country has grown and now Japanese stuff is pretty good.The Chinese worker will demand more money ,the buyers for their products will demand better quality, and you will see chinese stuff become much better in quality and reliability but the prices will rise .