Tuesday, August 3, 2010

Ford Sells Volvo Unit to Chinese Company

China's largest acquisition of a foreign car maker closed yesterday with Ford selling its Volvo unit to Geely for US$1.3 billion in cash and a $200-million note.

This means that Ford is no longer providing recall information on its website and details of any outstanding recalls must be obtained through a Volvo dealership in Canada.

Note, that there will likely be a steep fee for this letter as Volvo dealerships in Canada state that certain "Volvo" modifications are required. Modifications have been known to cost close to $3,000 and include instrument cluster changes and other inspections.

Please note that these modifications are not a Transport Canada requirement but a Volvo-mandated requirement.

Read more: Ford, Geely complete deal for Volvo; Volvo now parked in China

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