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Re: Auto Industry News
Posted by volvop1900 (more from volvop1900) on Sat, 5 May 2001 20:04:12
In Reply to: , Kok Chen, Sat, 17 Dec 1988 12:00:00 

this is actually not AUTO industry news like CARS, but TRUCKS.

this volvo is not the car maker, but AB volvo.

The volvo referred to here is the entirely swedish corporation, which is
the world's second largest maker of heavy trucks (just behind Freightliner,
owned by daimler Benz), buses, construction equipment, marine drives,
engines, sophisticated propulsion systems (including trick fuel cells and
other modern green generators for general applications), airplane engine
components, and financial systems.  As such, it needs no bailing out.  ;-)
the average sales of each of the last four years is about US $1.7 billion.
($1.3 billion in 2000 the lowest and $2.2 billion in 1998 the highest)

This volvo did indeed post losses for the first time in years.  this market
is contracting, as freighliner and kenworth truck makers have recently  had
massive losses.  (Indeed, daimler benz's freightliner division dragged down
the company's profits and position almost as much as the chrysler division
did this year.)   Volvo has just completed a period of great expansion over
the last several years, approaching sales figures only slightly behind the
world's largest heavy truck maker its position throughtout the world in
heavy truck production (after buying many of its component suppliers, then
buying bus makers troughout europe and canada, then buying renault/mack
trucks, volvo recently tried to take over SCANNIA trucks in a friendly
fashion, but was rebuffed.  volvo then purchased a large stake in the other
swedish truckmaker on its own).

actually, when volvo unveiled its lastest cab in 1997, it was a runaway
success,  quickly became the best selling truck in north america, beating
the freightliner model that has mercedes E class headlights ;-), the rather
aggressive looing kenworth T-2000, and all others.  if you travel anywhere
between cities, you will notice MANY MANY trucks with the massive
traditional volvo grille and diagonal slash (and many with volvo 850 front
headlights).

now, the volvo that makes cars ofcourse was purchased by ford motor company
from AB volvo in 1998.  volvo cars remains a completely independant unit of
ford's premiere division (comprised of aston martin, jaguar, land rover,
volvo, and lincoln), headed by wolfgang reitzle, formerly head of BMW.
volvo cars has been the only one to retain complete independance,
apparently as ford wishes to learn a few things to boost its reputation as
a safety maker.  Already in europe, ford has achieved some praise in this
respect.

jay
many volvo cars, from 1979 242  up through 1998  S 90 and
one special SAAB

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