Volvo Cars Price List in the Philippines December 2017
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Latest Reviews for Volvo Cars
<exterior> It is very cool. Its safety is excellent. <interior> The feel that I am held and its luxurious feel are amazing. <engine performance> It is powerful and its engine pick-up is pleasant. ...Read more
- Rating : 4.5
- Review by Japanese user
- Date : Feb 16, 2016
Latest Topics for Volvo Cars
Hi Guys! Can you help me out? I have a 1997 volvo s70 non-turbo automatic. Recently, the transmission began slipping, until it finally doesn't move. My mechanic says the Valve body has to be changed. I don't have the budget to have it fixed as of this ... Read more
- Last updated : May 22, 2015
- Posted by Timothy A. Farrales
- Replies of This topic : 2 Replies
About Volvo Cars
Volvo – Swedish car brand captures Filipino market
Aktiebolaget Volvo or more commonly known as Volvo is a car manufacturing multinational company based in Sweden. It was founded in 1927 and has its headquarters in Gothenburg, Sweden. It specializes in producing trucks and other heavy duty vehicles & equipments for purposes such as for construction, transport, etc., along with other passenger vehicles such as buses, commercial vehicles, etc. "Volvo" in Latin stands for "I roll", a conjugation of "Volvere" which is a reference to ball bearing used in engineering and other such equipments to reduce friction. It was first established in 1915 as a subsidiary division of a renowned Swedish ball bearing manufacturing company – AB SKF.
Volvo was first designed in 1924 by leading Swedish ball bearing manufacturer AB SKF engineer Gustav Larson & sales manager Assar Gabrielsson. It was designed in such a so as to withstand rough terrain & cold temperatures prevalent in Sweden. The name was initially intended to be used to represent the company's special ball bearing products but was later disbanded for a more mainstream brand name – SKF. Production of car prototypes started after 10th Aug 1926, and the first AB Volvo model made its debut at the 1935 Stockholm Stock Exchange.
Acquisition by Ford Motor Company
Volvo Cars was sold off to leading American car manufacturing company – Ford for a hefty sum of $6.45 billion in 1999. It now became a part of the Premier Automotive Group along with other leading luxury car brands such as Aston Martin, Jaguar and Land Rover. The company logo was still used on Volvo cars manufactured & marked by Ford after both companies agreed to share the AB Volvo trademark. However, it decided to sell Volvo in 2008 after the company's falling profits since 2005. It was finally sold to Geely Automobile of the Zhejiang Geely Holding Group – a Chinese car manufacturing company, in August 2010. The deal was completed for a sum of $1.8 billion.
Renault, a major stakeholder in Volvo AB, sold about 14.9% of its shares and 3.8% of voting rights for a sum of Euro 3.02 billion in October 2010. It later sold about 6.5% of the remaining shares and 17.2% of voting rights in December 2012 for a sum of Euro 1.6 billion. The present major shareholders in Volvo include Norges Bank Investment Management (6.25%), Swedbank Robur Fonder AB (5.48%), Alecta Pension Insurance Mutual (4.11%), Volvo AB (4.97%), Northern Cross LLC (3.09%), SEB Investment Management AB (1.50%), Nordea Investment Management AB (2.08%), Handelsbanken Fonder AB (1.84%), Didner & Gerge Fonder AB (1.43%) and Forsta AP Fonden (1.45%).
Volvo is currently managed by Company President & Chief Executive Officer Olof Persson, Chairman of Board Carl Henric Svanberg, Chief Financial Officer Jan Gurander and EVP Corporate Process Chief Information Officer Ernst Magnus Carlander. Volvo operates its car dealerships in Philippines under the active supervision of Volvo Cars Asia Pacific (VACP) which is headed by President Carl Goran Larsson and managed by Regional Business Manager Ai Phing The.
Volvo offers a very attractive product lineup for its customers to choose from. These include exclusive & premium car models such as commercial, vehicles, passenger cars, light weight truck, heavy duty vehicles, etc. The Volvo Cars Philippines offers a variety of car models to its rapidly growing customer base including S 80, S 60, V 60, XC 60, V 40, V 40 Cross Country, XC 60 and XC 90.
Acquisitions, Joint Ventures & Subsidiaries
Volvo operates through a range of subsidiary divisions including Volvo Penta, Rents, Trucks, Buses, Construction /equipment, Renault Trucks, UD Trucks, Mack Trucks, Prevost, Nova Bus, Shandong Lingong, etc. It also has a 50:50 partnership with Eicher Motors Ltd which is called VECV (VE Commercial Vehicles Ltd). Volvo Penta produces commercial ships, drive systems & diesel engines for marine systems while its truck conglomerate (Renault, UD & Mack) manufacture heavy duty to light duty & midsized trucks for commercial transportation and that of construction equipment.
Volvo Cars Philippines
Volvo has several car dealerships in Philippines with two new ones opening up in Metro Manila in January 2013. The cars are assembled in Malaysia and are marketed in the Asia Pacific region with Viking Cars Inc, a retailer of global marketing chain Scandinavian Motors Corporation, serving as the authorized & licensed dealer of Volvo cars in Philippines.
According to a survey conducted in 2012, Volvo had sold over 421,951 cars all over the world with the trend exhibiting a 6.1% decline in growth compared to 2011.