Volvo Car Corporation, or Volvo Personvagnar AB, is a Swedish premium automobile manufacturer, headquartered in the VAK building in Gothenburg, It is a wholly owned subsidiary of Zhejiang Geely Holding Group of China.
Volvo Car Corporation was founded in 1927, in Gothenburg, Sweden, originally as a subsidiary company to the ball bearing maker SKF. When Volvo AB was introduced on the Swedish stock exchange in 1935, SKF sold most of the shares in the company. Volvo Cars was owned by AB Volvo until 1999, when it was acquired by the Ford Motor Company as part of its Premier Automotive Group. Geely Holding Group then acquired Volvo Cars from Ford in 2010.
Volvo Cars manufactures and markets sport utility vehicles, station wagons, sedans, compact executive sedans, and coupes. With approximately 2,300 local dealers from around 100 national sales companies worldwide, Volvo Cars’ largest markets are the United States, Sweden, China and Belgium. In 2011, Volvo Cars recorded global sales of 449,255 cars, an increase of 20.3% compared to 2010.
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