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Volvo announces 1,000 new layoffs for 2013

Volvo announces 1,000 new layoffs for 2013

Volvo Car Corporation announced on Wednesday it would cut about 1,000 jobs and slash $237 million in costs by the end of this year. The Swedish automaker wants to reverse recent losses caused by weak sales in Europe. Volvo CEO Hakan Samuelsson told Swedish public television SVT that 1,000 consultants […]

Volvo gets $1.2 billion loan from China Development Bank

Volvo gets $1.2 billion loan from China Development Bank

Volvo Car Corporation will receive a €922 million ($1.2 billion) loan from China Development Bank to repay its debt, the Swedish carmaker announced on Thursday. The Chinese-owned carmaker hopes for more loans to help finance the investment needed to double its sales. As a second step under the loan agreement, […]

Volvo to Lay Off 400 Temporary Consultants

Volvo to Lay Off 400 Temporary Consultants

Volvo announced it will lay off 400 temporary consultants and that it has offered an ultimatum to its Swedish suppliers to cut prices by a fifth by 2015. Volvo, which was acquired by Geely in 2010, announced the reduction of technical consultant positions is necessary for the completion of work […]

Volvo interested to buy Saab’s test equipment

Volvo interested to buy Saab’s test equipment

Volvo Car Corporation, the Swedish automobile manufacturer owned by Zhejiang Geely Holding Group is interested in buying some of Saab Automobile’s machinery and test equipment, but it hasn’t yet placed a bid, Dow Jones Newswires reports. Volvo has already acquired ex-Saab technical director last month. In addition, a spokesman for […]

Volvo C70 Inscription going to L.A. Auto Show

Volvo C70 Inscription going to L.A. Auto Show

The Swedish based automaker Volvo doesn’t really have something new to present at the upcoming Los Angeles Auto Show but the company has announced something called the C70 Inscription which will make its official debut at the North American event this month. Volvo says that its C70 Inscription will be […]

Volvo starts selling the V60 Plug-in Hybrid in 2012

Volvo starts selling the V60 Plug-in Hybrid in 2012

At the beginning of 2011, Volvo Car Corporation unveiled the V60 Plug-in Hybrid – a virtually production-ready car with carbon dioxide emissions below 50 g/km. Now the automaker said it will launch the Plug-In Hybrid in 2012. When powered solely by electricity, the V60 Plug-in Hybrid has a range of […]

Volvo Concept You previewed

Volvo Concept You previewed

With the Frankfurt Motor Show officially opening its gates, the Swedish automaker Volvo decided that all curious eyes who wanted to see the real Concept You should have to wait more for the real thing and previewed it in a statement along with some images. “Concept You gives a good […]

Ford has no plan to keep stake in Volvo

Ford has no plan to keep stake in Volvo

Ford Motor Co. doesn’t intend to keep a stake in Volvo Cars and is aiming to sell the Swedish automaker by the end of the year, said John Fleming, the U.S. company’s top executive in Europe. Maintaining a holding in Volvo is “just not something that’s even being considered,” Fleming […]