Ford has officially sold Volvo to Zhejiang Geely Holding Group Company Limited (Geely) for $1.8 billion.

"Volvo is an excellent brand with a strong product line, and it has returned to profits after a successful restructuring. We are confident Volvo has a solid future under Geely's ownership," said Alan Mulally, Ford's president and CEO. "At the same time, the sale of Volvo will allow us to sharpen our focus on the Ford brand around the world and continue to deliver on our One Ford plan serving our customers with the very best cars and trucks in the world."

Under the agreement, Ford has not retained any ownership of Volvo, but will continue to supply Volvo with powertrains, stampings and other vehicle components for differing periods of time.

Although many buyers in the US loathe wagons, Volvo has continued to sell them. Fortunately the boring square Volvo wagons of the 80s and 90s have given way to much "sexier" models like the 2011 V60.

The 2011 V60 "sports wagon" is the wagon version of the S60 sedan. Volvo is going to offer the V60 with a series of engines, including a new 2.0L turbocharged direct-injected GTDi 4-cyl with 203-hp. There are also 1.6L GTDi engines and five-cyl turbodiesels being offered. The range topper is the 3.0L 304-hp engine that powers the T6 version that gets the wagon to 60 mph in 6.6 seconds.

Volvo claims that no less than 90 percent of V60 production will be sold in Europe. It's not known what versions of the V60 US buyers will get.

Volvo has announced the pricing for the all-new 2011 S60 sedan that now starts at $37,700 plus an $850 destination fee. The S60 undercuts a comparably equipped BMW 335i xDrive by $7,150 and the Mercedes-Benz C350 by $1,765.

"The all-new S60 has been a long time coming," said VCNA President and CEO, Doug Speck, "but it's been worth the wait. With 300 horsepower, standard all-wheel drive, its stunning design and Volvo's latest technology, it's the kind of car that will put a smile on any driving enthusiast's face." Today's pricing announcement gives the competition pause for thought. "When you consider you can own an extremely well-equipped 2011 Volvo S60 for only $41,400, and that you will pay nothing to repair or maintain the all-new S60 for 5 years or 60,000 miles, it really becomes a no-brainer," continued Speck.

The 2011 S60 is powered by a turbocharged inline six-cylinder with 300 horsepower and 325 lb-ft. of torque. It reaches 0-60 mph in 6.2 seconds and has a top speed of 155 mph.

Ford has announced today that it has finalized an agreement with Zhejiang Geely Holding Group Company Limited to sell Volvo for $1.8 billion.

Ford is not going to retain any stake in Volvo since Volvo will be 100 percent owned by Geely. Ford will continue to supply Volvo with powertrains, stampings and other vehicle components. Part of the sale also includes that Ford will provide engineering support, information technology and access to tooling for common components.

"Volvo is a great brand with an excellent product lineup. This agreement provides a solid foundation for Volvo to continue to build its business under Geely's ownership," said Alan Mulally, Ford's president and CEO. "At the same time, the sale of Volvo will allow us to further sharpen our focus on building the Ford brand around the world and continue to deliver on our One Ford plan serving our customers with the very best cars and trucks in the world."

The sale is expected to close in the third quarter of 2010.

The 2011 Volvo S60 is set to be unveiled at the Geneva Motor Show next month. Volvo has already released photos of the new midsize sedan, but now we have even more and more details of what we can expect when it hits showrooms.

The all-new S60 is bigger than the model it replaces with a nearly 2.5-inch increase in wheelbase. This directly impacts rear leg room with a 2.0-inch increase.

Under the hood of the S60 T6 is a more powerful version of the engine in the XC60. The turbocharged 3.0L puts out 300 horsepower and 325 lb-ft. of torque. it only takes 6.2 seconds to reach 0-60 mph and has a top speed of 155 mph. All T6 models come standard with Volvo's all-wheel-drive system.

The S60 is also going to feature Volvo's City Safety system, which automatically brakes if the driver fails to react in time when the vehicle in front slows down or stops - or if he or she is driving too fast towards a stationary object. The system can lessen or even entirely avoid low-speed rear-end impacts at speeds up to 18 mph.

The 2011 S60 will arrive late 2010 in the US.

The deal between Ford and China's Geely is almost complete. Geely is set to close the $2 billion deal for Volvo this month and Geely plans on running Volvo as a separate entity to protect its luxury image.

"We want to be careful not to damage the Volvo brand," said Freeman Shen, Geely's vice president for international operations. "We don't want the image of a luxury car made in a third world country. We want the image of a European luxury car, albeit owned by a Chinese owner."

Geely is planning on building a Volvo plant in China, but it's main operations will not be moved there.

It looks like GM has finally come to an agreement with Spyker to purchase Saab, but don't forget about Volvo. Ford is still currently finalizing a deal wtih China's Geely to buy Volvo. According to the latest rumors the deal could be worth as much as $1.8 billion or as little as $1.6. In 1999 Ford purchased Volvo for $6.45 billion.

Late last year, Ford announced that it had achieved an accord with Geely Holding Group, but the deal is still subject to regulatory approval and is expected to be completed in the second quarter of 2010.

Part of the plan involves Geely building a Volvo factory in China. Analysts predict that the Volvo XC60 crossover will be the first model produced in China.

Volvo has released the pricing for the refreshed 2011 Volvo C70. The Volvo C70 hasn't been a huge hit for Volvo, so the 2011 model is getting a facelift and more standard features to hopefully entice more buyers.

The 2011 C70 gets a revised face that looks similar to the XC60 and new C30. The pricing starts at $39,950 and includes standard features like an automatic 5-speed transmission, SIRIUS satellite radio and luxurious Sovereign Hide leather upholstery.

The 2011 C70 is powered by a 227 horsepower turbocharged five-cylinder engine.

Ford has announced this morning that all terms with relating to the sale of Volvo Cars to Zhejiang Geely Holding Group Company Limited have been settled. There is still more work to be done to complete the sale though. Ford anticipates that the final agreement will be signed by both parties in the first quarter of 2010 and the sale should be complete by the second quarter.

Although Ford will officially be selling Volvo, Ford still intends on working closely with Volvo in the future.

Expect more details soon...

Back in September Volvo unveiled a C30 prototype with an electric powertrain. Next month at the Detroit Auto Show Volvo is going to unveil complete electric powered C30. It features both a complete interior and full instrumentation, as well as enhanced battery packaging.

"The first prototype helped us identify the main technological challenges, such as battery packaging and safety issues. We have addressed these challenges without compromising the C30's cool and fun-to-drive personality. I am very happy with the result. The electric C30 in Detroit is a much more complete product," says Lennart Stegland, Director of Volvo Cars Special Vehicles.

The next step in the process is to build 50 of the electric C30s in 2010 that will be driven over the next two years.

Volvo has announced the pricing for the refreshed 2011 C30 T5 and the sportier C30 R-Design. The 2011 Volvo C30 T5 starts at $24,600, while the C30 R-Design starts at $26,950.

The 2011 C30 gets a new front end including a new nose, front fenders, grille, headlights and lower front spoiler. The rear of the C30 gets a facelift as well. Both models are powered by the same turbocharged 227 horsepower inline 5-cylinder engine. The R-Design model gets a stiffer suspension thanks to stiffer bushings, roll stabilizers and springs. The R-Design model also gets a full body kit that is body colored to give the impression that the car has actually been lowered more than the actual 10 mm.

Volvo has released the first official photos of the 2011 S60 that is set to debut at the Geneva Motor Show in March.

The all-new S60 draws many styling cues from the S60 concept and features many of the same design elements as the rest of the Volvo models. Unfortunately the suicide doors from the concept didn't make it to production, but the coupe-like roofline remains.

Volvo claims that the new S60 will drive like no other Volvo and will be safer thanks to the Pedestrian Detection system.

The 2011 Volvo S60 will enter production in early summer 2010.

Ford has announced that it is in negotiations with China's Zhejiang Geely Holding Group Co. Ltd. to sell Volvo. If the deal does go though, Ford has no plans on retaining any ownership of Volvo.

Lewis Booth, Ford Motor Company executive vice president and chief financial officer stated "Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand. But there is much work that needs to be completed in the more substantive discussions that are agreed to take place. We have no specific timeline to conclude the discussions."

Stephen Odell, Volvo CEO also stated that "Volvo's management team welcomes today's announcement as a positive step forward. At Volvo, we are continuing to keep our attention firmly fixed on engineering and building great Volvo cars, to reduce our cost base and to return the business to sustainable profitability at the earliest possible opportunity."

Motor Trend has announced the list of SUV contenders for its "SUV of the Year" award.

Of course this award is great to whomever wins, due to all of the bragging rights that come along with it. It's usually heavily used in every ad campaign. Last year the Subaru Forester took home the award.

Which SUV do you think should win this year's award?

Volvo has released a few official photos of a 2011 S60 prototype being tested with Volvo's new Collision Warning with Full Auto Brake and Pedestrian Detection system in the streets of Copenhagen.

The new technology has been tested for the past ten years and will make it's first appearance on the new S60.

"Our aim is that this new technology should help the driver avoid collisions with pedestrians at speeds below 25 km/h. If the car is travelling faster, the aim is to reduce the impact speed as much as possible. In most cases, we can reduce the collision force by about 75 percent. Considering the large number of pedestrian fatalities that occur, if we manage to lower the fatality risk by 20 percent this new function will make a big difference. In specific situations the fatality reduction can be up to 85 percent," says Thomas Broberg.

Following the unveiling of the revised 2010 Volvo C30 last week, Volvo has unveiled the sportier C30 R-Design that will make an appearance in Frankfurt this week.

More than just sportier styling, the R-Design version of the C30 features more precise steering thanks to stiffer bushings, a lower steering ratio which yields a 10 percent faster response, and spring stiffness has been increased by 30 percent. According to Volvo the new sport chassis makes the C30 R-Design a more agile car. In terms of styling the C30 R-Design gets a new body kit that is painted the same color as the car and that makes the car appear lower to the ground than it acutally is. 17-inch Cratus aluminum wheels are standard, with 18" being optional.

Just like the C70 convertible, Volvo has given the C30 a facelift for the 2010 model year. The revised front end is very similar to the new C70 and the S60 concept.

"The front of the Volvo C30 has become more dramatic and expressive. The angled lines of the front bumper together with the new headlamps, which are drawn offset and up, reinforce the impression of speed and sportiness," says Fedde Talsma, Exterior Chief Designer at Volvo Cars.

In addition to the styling changes, the new C30 also gets new color and wheel options and a new optional sport chassis, which lowers the car 10 mm.

Volvo is set to unveil a revised C70 at the Frankfurt Motor Show, but the first shots have been unveiled. Although Volvo has yet to release an official press release with the photos, we have our first look at the changes to the 2010 C70.

The changes to the new C70 are mainly on the exterior with new more swept back headlights, a larger grille and new taillights and rear bumper. The single interior shot doesn't look much different than the current model.

Since Volvo has yet to release a press release it's not known if there are any changes under the hood.

Stay tuned...

Volvo has announced, as expected, the introduction of the XC60 R-Design, which adds more "sport" to the exterior and chassis.

On the exterior the R-Design package adds door mirror housings, trim moldings and décor trim in matte silk metal finish, skid-plates and twin chrome tailpipes. The five-spoke Cratus aluminum wheels are also unique and are available in either 18-inch or 20-inches. The lower section of the XC60 is also color matched to the exterior with the R-Design package.

A more direct steering gear has also been added to add more sportiness to the driving experience, due to its faster steering response.

The R-Design package for the XC60 will have its public debut at the 2009 Frankfurt Motor Show and will go on sale shortly after that.

Volvo has announced the changes to the 2010 S80, which gets updated styling, an enhanced interior and new diesel engines for Europe.

The 2010 S80 will feature three new diesel engines, the 2.4D, D5 and the low CO2-emitting DRIVE. In the US the S80 features a 235 hp 3.2L six-cyl, a 281 hp turbocharged 3.0L six-cyl or a 311hp 4.4L V8. The turbocharged six and V8 come standard with AWD.

The exterior of the S80 gets an updated grille with a larger Volvo emblem, and chrome on the lower fascia, side skirts and underneath the taillights. Inside there is a new steering wheel and updated gauges.

Volvo has announced the pricing for the 2010 Volvo XC60 T6.

The 2010 Volvo XC60 T6 has a starting price of $37,200, which includes standard features like, leather seats, power driver's seat, SIRIUS satellite radio, Bluetooth ad HD Radio. The Panorama moonroof is also offered for no extra charge.

The XC60 T6 is powered by a 3.0L turbocharged engine that puts out 281 horsepower and 295 lb-ft. of torque. All-wheel-drive is also standard.

Although there are rumors that Ford may soon sell Volvo, Volvo is continuing work on its current lineup. Volvo has unveiled the S60 Concept that will be officially unveiled next month at the Detroit Auto Show.

The S60 Concept shows that the next generation S60 will be more aggressive than the current generation with a coupe-like roof line. The concept also has no B pillar and features rear doors that open suicide style. Obviously the door setup will not make it onto the production model.

Inside the concept features many of the same design elements as the newer Volvos.

The concept is powered by a GTDi (gasoline turbocharged direct-injection) four-cylinder that puts out 179 horsepower and is mated to a Powershift dual-clutch transmission.

Stay tuned for more details next month from the show.

Times are tough for the Big 3 and each automaker is trying to figure out ways to raise revenue. Ford announced today that the automaker is reevaluating its options for the Volvo brand.

Ford is being forced to reconsider selling Volvo dues to the significant economic decline in the last few months. Ford says it's going to be a few months before Ford makes a decision about Volvo. In the meantime Ford is going to work with Volvo to allow it to operate on a more stand-alone basis.

Earlier this year there were rumors that Ford was thinking about selling Volvo, but those rumors were quickly denied. Now rumors are circulating again that Ford is now talking to BMW about Volvo.

TimesOnline is claiming that Ford is in preliminary talks with BMW to sell its stake in Volvo. Of course sources are claiming that there were talks even though both automakers are denying it.

It was also rumored two years ago that Ford was in talks with BMW about Jaguar and Land Rover although both brands were eventually sold to Tata of India.

Yesterday Jerry York made some statements about the fact that Ford should sell its Volvo and Mercury brands. Well today Ford has released an official statement that Volvo is not for sale and that the automaker continues to invest in Mercury.

Ford recently unloaded Land Rover and Jaguar and now there are speculations that Ford may be looking at selling Volvo.

After many leaks this week, Volvo has officially unveiled the 2009 XC60 crossover, that is going to be unveiled in Geneva.

More photos of Volvo's upcoming XC60 crossover have surfaced before its official unveiling at the Geneva Auto Show next month.

Volvo is going to finally unveil its new small crossover, the XC60 at the Geneva Auto Show next month.

Yesterday it was reported that Volvo had decided to cancel the replacement for the next-generation XC90 SUV. Well Volvo got word of these rumors and responded to Auto Motor and Sport, who originally stated Volvo's future plans.

According to a new report by Auto Motor & Sport the next-generation Volvo XC90 has been cancelled.

Rumors are circulating that Volvo executives are discussing the possible idea of developing a five-door version of the C30 hatchback.

Volvo is going to unveil its new C30 Efficiency car next month at the Frankfurt Motor Show. The car only consumes 4.5L of fuel per every 100 kilometers (52.26 mpg).

According to Autocar, Volvo is going to re-position its S40 and S60 models by 2010.

Ford has surprised the industry by posting a net profit of $750 million for the second quarter of 2007. After seven straight quarters of being in the red, Ford has managed to come back. Well don't get excited because it wasn't from actual car sales in North America, sales dropped 9 percent last quarter.

Volvo's next new vehicle after the upcoming C30, will be a production version of the XC60 concept that was shown at the Detroit Auto Show last January. It is rumored that the production version could be unveiled at the upcoming 2008 Detroit Auto Show.

Earlier this year, Volvo announced that they were going to discontinue the remaining "R" badged vehicles in their lineup, due to slow sales. Now there are rumors that Volvo is going to release a performance package for the new S40 and V50 models.

According to Automotive News, Ford has hired investments banks Goldman Sachs and Morgan Stanley to help with the sale of the Jaguar, Volvo and Land Rover brands.

The Insurance Institute for Highway Safety (IIHS) has released crash test scores for the newest convertibles. The tests are pretty surprising since the new BMW 3-Series only received a marginal score, while the new Chrysler Sebring received good ratings in the crash tests. Apparently a higher price does not always mean you are getting a better car.

Forbes has gathered what they believe to be the safest new cars on the market. They searched through Consumer Reports, Department of Transportation, Insurance Institute for Highway Safety (IIHS) and the Highway Loss Data Institute (HLDI) to compile the list of the top 20 safest cars of 2007.

Yesterday rumors surfaced that Ford was thinking about selling Volvo and that BMW was interested. Apparently the rumors are false according to a Ford spokesperson.

According to the Goteborgs Posten, a Swedish newspaper, Ford is thinking about selling Volvo. Ford who has been in financial distress the past few years lost $327 million from their luxury nameplates, which includes Jaguar, Land Rover, Lincoln and Volvo (Ford does not disclose the revenue totals for each of its luxury brands).

Edmunds.com has posted a list of the most wanted cars in 2007 based on reader feedback. Out of the 32 categories you may be surprised which automaker took home the most awards....

April's auto sales numbers have just been posted and almost every major automaker had a sales decrease last month. Even the Asian automakers that have been making headlines for their sales gains, took a hit.

Volvo has unveiled revised versions of the S40 and V50. The 2008 Volvo S40 sedan and V50 wagon feature a revised interior and slightly revised exterior.

Volvo has just announced that they will end production of the performance oriented "R" models at the end of the year.

Volvo has released pricing for the 2008 Volvo C30 that will go on sale in the U.S. this coming October. The C30 Version 1.0 will start at $22,700 and comes standard with the turbocharged T5 five-cylinder producing 227hp, a 160 watt stereo, 17" wheels and power windows.

Volvo is interested in the demand for its new hatchback that will be coming to the U.S. soon. Users have been able to build the hatch online for months, but without seeing the actual price at the end. Now Volvo has added the approx. price after the car is configured.

There have been numerous rumors about the fate of the next Volvo S40 and S60. One rumor suggested that the next S40 would be positioned as a 3-Series Fighter. Now comes another rumor that the S40 and S60 lines will be fused into one mid-size model. These new renderings from Auto Motor & Sport Sweden show the new mid-size sedan that takes cues from the XC60 SUV Concept and the new S80.

Volvo has released the first official pics of the new 2008 Volvo XC70 a few days of its official release at the Geneva Auto Show. Based on the new 2008 V70, the XC70 is the offroad version. The car will be powered by the new 3.2L inline 6- cylinder (238 hp) or a 2.4L inline 5-cylinder diesel (185 hp).

German magazine AutoZeitung has published illustrations of what the next 2009 Volvo S40 could look like. There have been rumors that Volvo may kill the S60 model. If that happens the S40 could move slightly upmarket to fill the void left by the S60. This means the car could grow a few inches also. If this happens, the car could switch platforms from the current Ford Focus to the new Ford Mondeo platform.