Dwyer and Sons Volvo

Zhejiang Geely Holding Group Signs Stock Purchase Agreement to

Acquire Assets of Volvo Car Corporation

Response for Consumer Inquiries

On March 28, 2010, Zhejiang Geely Holding Group signed a Stock Purchase Agreement (SPA) with Ford Motor Company whereby it will acquire the assets of Volvo Car Corporation.  The closing of the contracts is anticipated to occur during the third quarter 2010.

This is a great development for the future of Volvo Cars!

Here's why:

Back in 1999, when Ford bought Volvo, many people had concerns Ford management would weaken the Volvo brand; that they would take content out of our cars, cut costs by reducing safety features and, in a sense, turn us into something less than we were.  That never happened.

Ford understood Volvo needed to remain true to its core business philosophy.  That is, after all, why people buy a Volvo.  In a very strong sense, Ford helped make Volvo a better Volvo by investing in our future - while allowing Volvo to retain its values and culture.

Similarly, Geely has stated that:

• Volvo Cars will operate as an independent company, retaining its headquarters in Sweden and design, engineering and manufacturing operations in Scandinavia.
• Volvo Cars will remain a Swedish company and will continue to develop new models - and new safety technology - in Sweden.
• It will focus on helping Volvo Cars increase its presence around the world, particularly in high-growth Asian markets.

Rest assured, the North American market will remain a strategically important key to Volvo's global success and that we'll continue to offer well-styled, safe vehicles for a long, long time.

In other words, Volvo will remain true to its Scandinavian heritage - with the goal of becoming an even better Volvo!