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How the Americans gave gold to the Chinese as Volvo Cars has turned into profit



  

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Thursday, 12 May 2011
This is a company in which American Ford could not make money out of. Just a few years under a new ownership, Volvo Car Corporation today reported its first financial results since the Chinese Geely bought the company.

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CEO Stefan Jacoby said the company returned to profit after several years of losses.
At the same time, Volvo will be recruiting 100 people in its body work plant in Olofstr�m, reports Swedish TV4 channel in Karlskrona.

For a year now, 375 people were hired through various contractual arrangements at Volvo Cars in Olofstr�m since the deep crisis over two years affected the workforce and in which 300 had to leave their jobs.

It remain unclear to us how and why the Americans could not make wealth out of a great brand such as Volvo cars. Some automobile researchers feel that Volvo is lucky to have been bought when its brand had not been much eroded. Looking at Saab, a great brand that has been eroded too deep by the US giant GM with very weak strategies.
By Scancomark.se Team



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