New owner: Zhejiang Geely Group Holding Co. Ltd
All-new Volvo S60 and V60 unveiled
Global sales totalled 373,525 cars, an increase of 11.2 percent over 2009
Stefan Jacoby appointed President and CEO
New board of directors named
New five-cylinder two-litre diesel engine
For the Volvo Car Corporation 2010 was a year of changes. The negotiations between Ford Motor Company and Zhejiang Geely Holding Group continued and on March 28 a stock purchase agreement for the Volvo Car Corporation was signed. On August 2, Zhejiang Geely Holding Group completed the acquisition of 100 percent of the Volvo Car Corporation from Ford Motor Company.
Li Shufu became chairman of the board on July 15. A few weeks later Stefan Jacoby was appointed the new President and CEO of Volvo Cars and a new board of directors was presented.
After two difficult years the Volvo Car Corporation reversed the negative trend and increased sales by 11.2 percent compared to 2009.
The all-new Volvo S60 and V60 received a warm welcome with great reviews in the media, securing several international awards.
The Volvo Car Corporation returned to profit in the first quarter of 2010 and kept up the momentum throughout the year.


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