Ford may have selected Chinese automaker Geely as its bidder of choice for the up-for-sale Volvo unit, but that’s not stopping a consortium led by a former Ford executive from making a bid. As we reported earlier, Crown, as the consortium is called, has expressed interest, but we’ve since learned that the group’s bid could exceed Geely’s offer.
“There is no point in bidding low. You are not going to win anything that way,” Sweden’s Dagens Industri quoted an unnammed Crown consortium source as saying.
Crown is led by Michael Dingman, a former director of Ford, but the consortium has apparently gained backing from a number of Swedish investors, which could make it more appealing both in Dearborn and in Gothenburg.
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11/23, 2:05 PM
posted by:
Yaroukh
Please Ford!
11/23, 2:15 PM
posted by:
vvmasterdrfan
DO ITTTT!!!!!
11/23, 2:29 PM
posted by:
TomF
Anything’s better than Geely.
11/23, 2:40 PM
posted by:
writeeddie
Why not Geely? Even Goldman Sachs is becoming it share holder these days. Maybe by buying up VOLVO they can improve the safety of Geely from no star to 5 stars and make VOLVO cars 40% cheaper for the masses.
How about the 2013 S60 at Honda Accord price? As long as they can keep the quality close to what it is today.
11/23, 2:51 PM
posted by:
04focus
No, if Geely gets Volvo it makes their invasion of the US of A that much sooner. The last thing Ford needs right now is a Geely-branded Taurus clone with a 5-star crash rating selling for $15k.
And if they get a friendly bidder i.e. Crown maybe they could be open to repurchase when the times get better. Also Ford could pull an Opel and not sell after all, if they could get that $2b cash elsewhere.
11/23, 3:30 PM
posted by:
Lionwithoutpride
I’m praying for this. I love my Volvo dealer and I would love to give them the business whenever I have the money to buy my first new car, but that won’t happen if Geely owns Volvo. For the reasons stated by 04focus that I’ve been harping out about forever and I’m going to keep annoying ya’ll with my tirade about Geely (since Leftlane claims that industry insiders read this site and I have no reason to doubt Leftlane’s claim).
p.s. Again, this is nothing against Geely or the Chinese people. I wish them well, but I know that, right now, Ford can’t give birth to a low-budge Chinese make that has the safety rating to enter the U.S. market!
11/23, 3:31 PM
posted by:
Lionwithoutpride
*harping ON about
11/23, 4:26 PM
posted by:
DenverGuy217
Crown Royal V70s for everyone!
11/23, 4:57 PM
posted by:
johnnycanuck
Did someone say Crown Royal? Give me 3 fingers straight up. And no Borat… not where you think.
11/23, 6:13 PM
posted by:
JakeK66
Right now, I pray to god (or gods) this happens for the sake of my resale value in two years.
11/23, 6:34 PM
posted by:
steve333
>Why not Geely? Even Goldman Sachs is becoming it share holder these days. Maybe by buying up VOLVO they can improve the safety of Geely from no star to 5 stars and make VOLVO cars 40% cheaper for the masses.
How about the 2013 S60 at Honda Accord price? As long as they can keep the quality close to what it is today.
It would more likely reduce the Volvo safety rating from 5 to 1.
This is a Chinese company, remember? The Chinese company that bought the rights to Pyrex from Corning changed the formula to make it cheaper to produce and now they explode. Expect the same with a Geely owned Volvo.
11/23, 8:30 PM
posted by:
Borat
I was putting on the glove………..
11/24, 7:22 AM
posted by:
fordman
Hey everybody,Ford SUCKS! I heard Geely want to buy Ford and all their Mazda clones!