© 2005 - 2007
Free Online Auto Repair Tips & Guide
Home Repair Tips
Buy Brand Name Replacement & Performance Parts
Search by make:
Powered by Auto Parts Warehouse
The Volvo Group has its origin in 1927 when the first Volvo car rolled off the production line at the factory in Gφteborg. Only 297 cars were built that year. The first truck, the "Series 1", debuted in January 1928, was an immediate success and attracted attention outside the country.  In 1930, Volvo sold 639 cars, and the export of trucks to Europe started soon after; the cars did not become well-known outside Sweden until after World War II.
Marine engines have been part of the Group almost as long as trucks. Pentaverken, founded in 1907, was acquired in 1935. As early as 1929, however, the U-21 outboard engine was introduced. Manufacturing continued until 1962.
The first bus, named B1, was launched in 1934, and aircraft engines were added to the growing range of products at the beginning of the 1940s.
On 28 January 1999 Volvo Group sold its business area Volvo Car Corporation to Ford Motor Company for US$6.45 billion, with the resulting group now largely set on commercial vehicles. On 2 January 2001, Renault V. I. (including Mack Trucks, but not Renault S. A.'s stake in Irisbus) was sold to Volvo, which renamed it Renault Trucks in 2002. As a result, the mother company Renault S. A. is AB Volvo's biggest shareholder, with a 20% stake, shares and voting rights.
The last ten years the company has undergone rapid growth in the service area with, for example, financial solutions supporting the sales of the manufacturing business units. In 2006, AB Volvo acquired from Nissan Motor Co Ltd, 13% of the shares in the Japanese truck manufacturer Nissan Diesel, and became major shareholder. In 2007 the Volvo Group took complete ownership of Nissan Diesel to extend its expansion in the Asian pacific market.
From Wikipedia, the free encyclopedia