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The Mercury Cars Guide : November 7th 2009
8--- Classifieds 62 300 400 • carsguide.com.au Saturday, November 7, 2009 Geely looks to buy Volvo CHINESE TAKE-AWAY: Volvo is almost certain to be bought by Chinese manufacturer Geely. The crown jewel of Swedish motoring looks to be heading to China. Paul Gover reports VOLVO looks cer- tain to pass into Geely ownership, after Ford named the Chinese company as its preferred buyer for its Swedish prestige brand. It's a similar process to the one that originally iden- tified Tata as the likely buyer for Jaguar and Land Rover, before the British brands left the Ford family to become part of the Indian industrial conglomerate. Geely is one of the most adventurous of China's new-age carmakers and in- tends to start selling cheap cars in Australia next year in partnership with motor- ing guru John Hughes, who has set up a new company called Chinese Automotive Distributors. The Volvo deal is the biggest so far for Geely and would give the company access to all sorts of ad- vanced technology, particu- larly on the safety side. But Ford says the deal is not done yet and that there will be more detailed and focused negotiations before the change of ownership goes ahead. Volvo has been for sale for more than a year but Ford has maintained the company would only go at the right time, to the right owners, for the right price. The Zhejiang Geely Hold- ing Group is believed to be bidding up to $2 billion for Volvo Car Corporation, although the financial de- tails are being kept secret. The business plan for the move is also under wraps as Ford is keen to ensure --- like Jaguar and Land Rover --- that the Swedish com- pany's operations are not affected by any change of ownership. But Ford paid more than $5 billion for Volvo at the time it was expanding its brand portfolio, including Aston Martin and JLR, in a move that has ultimately been reversed as it returns to its core working-class roots. The impact of the Geely deal on Volvo Cars Austra- lia is currently uncertain, with no official comment from the Swedish brand's local operation. ''Negotiations are cur- rently with Ford and at this point in time, we cannot comment any further,'' says Laurissa Mirabelli, spokes- person for Volvo Australia. manheimfowles.com.au 349 Midland Hwy, Brighton Industrial Estate Ph 03 6263 3833 Direct to the public at fixed prices! Monday to Friday from 9am - 4pm & Saturday 9am - 1pm Vehicles released before auction 2007 Mitsubishi CH Lancer Wagon, 2.4L, 4spd Tiptronic, 52,325klm (Ex. Fleet) 2007 Holden Commodore SV6 Sedan, 3.8L, 6spd manual, 96,523klm (Ex Gov) 2008 Nissan X-Trail 4x4 Wagon 2.5L, 6spd Auto, 56,686km (Ex. Gov) 2004 Toyota Hilux 4X4 Dual Cab Utility, 3.0L turbo diesel (Ex fleet) 2006 Ford Futura MK11 Sedan 4.0L, 4spd Auto, 37,721km or contact Bruce Jones 0418 121 772 2007 Toyota Hilux 4x2 Workmate Dual Cab 5spd manual, 5,300 kms, Joy gives you credit for doing the right thing. Like driving a more ef cient and dynamic BMW. The BMW Ef cientDynamics Credit is a BMW initiative that rewards drivers with a minimum $4,000* retail value credit when they purchase a new BMW. The credit amount will be used to reduce the Manufacturer's List Price* when you invest in a BMW from Europe's most ef cient premium eet**. Similar to many government initiatives overseas, BMW is leading the way by providing access to vehicles that will ensure a more ef cient and dynamic future on our roads. Small business owners may also be eligible for a one-off 50% Tax Break^. 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October 31st 2009
November 14th 2009