Search Results: Volvo

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Swedish culture – a forgotten promotional tool

Analysis & Opinion: 18 Nov 09
Sweden’s cultural heritage is virtually unknown outside the country’s borders. Swedes should be better at using culture to promote their own country, writes Olle Wästberg, Director-General of the Swedish Institute. READ »

Geely to sell one million Volvos a year: report

Business & Money: 11 Nov 09
China’s Geely, the front runner to purchase Volvo Cars from Ford, wants to build a factory in China to help increase Volvo sales to one million vehicles, according to US media reports. READ »

Saab suffers US and Swedish sales slump

Business & Money: 4 Nov 09
Saab Automobile sales plummeted in the United States during the month of October, while sales of Volvo showed signs of improvement. READ »

Losses continue to shrink for Volvo Cars

Business & Money: 2 Nov 09
Volvo Cars posted a much improved third quarter result on Monday, losing only $135 million compared with the $458 million the company lost a year ago. READ »

Geely faces Volvo image challenge: analysts

Analysis & Opinion: 29 Oct 09
Geely Automobile's confirmed bid for Volvo is evidence of China's growing economic clout, but analysts say the company will face the tough challenge of ensuring the Swedish brand's reputation for safety, writes AFP's Allison Jackson. READ »

Ford picks China's Geely to bid for Volvo Cars

National: 28 Oct 09
Chinese automaker Geely is the only remaining bidder for the purchase Volvo Cars. READ »

Truck maker Volvo posts heavy losses

Business & Money: 23 Oct 09
Swedish truck maker Volvo Group has reported a third quarter net loss of 2.92 billion kronor ($429 million), a result that was less severe than analysts had feared. READ »

Saab sales continue to crash in Europe

Business & Money: 15 Oct 09
Sales figures for Saab Automobile continue to disappoint, dipping 61.7 percent in September compared with the year before. Meanwhile, Volvo’s car sales jumped 8.1 percent. READ »

Swedish grocers' earnings outstrip CEOs

Business & Money: 1 Oct 09
The most successful franchisees of the Swedish grocery store chain ICA are coining in more remuneration than many CEOs of large companies listed on the Swedish stock market. READ »

Ford 'examining Chinese Volvo bid'

Business & Money: 25 Sep 09
Ford's plans to sell Volvo to Chinese carmaker Geely for $2.5 billion are proceeding, according to reports. READ »

Immigration increases foreign trade: study

Society: 17 Sep 09
Increased immigration to Sweden in recent years has helped boost the country’s foreign trade, a new study shows. READ »

Geely withdraws reported offer for Volvo

Business & Money: 16 Sep 09
Chinese automaker Geely, which had previously indicated its intentions to own 100 percent of Volvo Cars, has scrapped plans to put together a bid for Ford’s troubled Swedish subsidiary. READ »

Volvo Cars celebrates upswing in sales

Business & Money: 15 Sep 09
A nearly four percent increase in worldwide sales for Volvo Cars in August signals a turning point, according to company head Stephen Odell, despite a continued sales drop in Europe. READ »

Baltic bliss: boating in the Stockholm archipelago

Travel: 14 Sep 09
Having lived for some time in a city so dominated by waterways and islands, Alannah Eames decides it's high time to take the plunge and join the boat set. READ »

Volvo to recall 26,000 cars due to software glitch

Business & Money: 10 Sep 09
Volvo Cars announced on Wednesday it planned to recall 26,000 cars worldwide because of faulty software which can lead to engine problems. READ »

Chinese automaker signs on to Saab deal

Business & Money: 9 Sep 09
Sweden's Koenigsegg Group has brought on Chinese auto company Beijing Automotive Industry Holding Co Ltd (BAIC) to secure the financing needed to buy Saab from General Motors, Koenigsegg said on Wednesday. READ »

Geely confirms Volvo interest

Business & Money: 8 Sep 09
Chinese car giant Geely confirmed on Tuesday that it is considering a bid for Ford's Swedish subsidiary Volvo Cars. READ »

Volvo truck sales collapse by half

Business & Money: 27 Aug 09
Swedish truck manufacturer Volvo Trucks has reported that sales of its vehicles collapsed by 54 percent in July. READ »

'Brand Sweden' goes local

Analysis & Opinion: 24 Aug 09
Nation-branding, though controversial in some quarters, is becoming ever more important and can be of great value to towns and regions wishing to reach out to the wider world, writes Joakim Norén of the Swedish Institute. READ »

Bumper Friday for krona and stocks

Business & Money: 21 Aug 09
The Stockholm stock exchange and the krona both hit record levels for the year on Friday as several economic indicators point to an upswing in Sweden's economic fortunes. READ »

Sweden's recovery gathering pace: Borg

Politics: 21 Aug 09
Sweden's government has revised its gloomy economic prognosis upwards, announcing on Friday that it expects the country's GDP to increase by 0.6 percent in 2010, before making greater strides towards a full recovery in 2011 and 2012. READ »

Former parent 'not interested' in Volvo Cars

Business & Money: 17 Aug 09
Volvo Cars' one-time parent company Volvo Group has thrown cold water on claims that it is mulling membership of a consortium working to bring the auto maker back to Sweden. READ »

US owners take major stake in Volvo Group

Business & Money: 17 Aug 09
American investment firm Capital Group has become AB Volvo's second largest shareholder increasing its stake to six percent of the Swedish truck manufacturer. READ »

Man shot dead in Malmö

National: 15 Aug 09
A man was shot dead on Friday night outside a petrol station in Malmö. The 23-year-old man was allegedly involved in criminal activity, according to police. READ »

Swedish consortium enters battle for Volvo

Business & Money: 15 Aug 09
A new consortium dominated by Swedish owners has at the last minute joined in the battle to purchase Volvo Cars from Ford, according to media reports. READ »

Chinese firm close to Volvo Cars bid: report

Business & Money: 6 Aug 09
Chinese automaker Geely is putting the finishing touches to a bid to become a majority owner of Volvo Cars as head of a consortium that will also include an undisclosed Swedish investor, business daily Dagens Industri reports. READ »

Gotland governor ousted over beach row

Politics: 4 Aug 09
Gotland county governor Marianne Samuelsson has been forced to step down from her post after she was taped arguing in favour of preferential treatment for a local businessman. READ »

Saab sales in Sweden near rock bottom

Business & Money: 3 Aug 09
Car dealers in Sweden are continuing to suffer from the economic downturn, with Saab seeing the worst of a dip that saw fewer 400 of its new cars hit the roads in July. READ »

Gotland official called in over favouritism claims

National: 30 Jul 09
The county governor of the Baltic island of Gotland, Marianne Samuelsson, has been summoned by the government to explain comments claiming that prominent business people should be given favourable treatment. READ »

Record losses for Sweden's Volvo Group

Business & Money: 21 Jul 09
Swedish truck maker Volvo Group on Tuesday reported its largest-ever quarterly loss amid as massive write-offs and weak demand took their toll on profits. READ »

Volvo Buses lands major order from China

Business & Money: 22 Jun 09
Volvo Buses, along with its Chinese subsidiary, plans to deliever 1,500 buses to a group in Shanghai, China in a deal worth 1.3 billion kronor ($162 million). READ »

Fifty years of Ikea on display in Stockholm museum

Lifestyle: 19 Jun 09
Stockholmers no longer need to travel to Barkaby or Kungens Kurva to get their Ikea fix. Fans of cheap-but-chic home furnishings can instead head to a downtown Stockholm museum to see a retrospective of the furniture giant's 50 years of liveable design, the AFP's Mark Preel reports. READ »

What's on in Sweden: June 19 - 25

Lifestyle: 18 Jun 09
What's on in Sweden: Morrissey & Midsummer fun in Stockholm; AC/DC & Euro 2009 U-21 football in Gothenburg; Yasmina Reza's ART in Malmö. READ »

China's Geely to buy Volvo Cars: report

Business & Money: 18 Jun 09
Volvo Cars is to be sold to Chinese automaker Geely following an initial agreement with Ford, according to media reports in China. But representatives from both companies deny any deal is in the works. READ »

Koenigsegg buys Saab: confirmed

National: 16 Jun 09
Saab Automobile is to be sold to Swedish sports car maker Koenigsegg, Saab has confirmed. READ »

Swedish boat sails to overall victory in Volvo Ocean Race

Sport: 16 Jun 09
Ericsson 4 of Sweden won the Volvo Ocean Race on Monday, marking the second time a Swedish boat has placed first in the grueling nine-month round-the-world sailing competition. READ »

Swedish and US yachts do battle over Stockholm stage

Sport: 15 Jun 09
Sweden's two Ericsson yachts were neck and neck with US entry Puma Ocean Racing Monday as the boats sprinted for Stockholm on the ninth stage of the Volvo race around the world. READ »

What's on in Sweden: June 12 - 18

Lifestyle: 11 Jun 09
What's on in Sweden: Neil Young & Ikea exhibition in Stockholm; Euro 2009 U-21 football in Gothenburg; Orchestra Baobab in Malmö. READ »

Swedish yacht secures home win in Volvo race

Sport: 11 Jun 09
Sweden's Ericsson 4 docked at Marstrand in southwest Sweden on Thursday morning as the clear leader of the nine-month yacht race, which is set to conclude later this month. READ »

Volvo Group cancels some layoffs as other jobs are cut

Business & Money: 10 Jun 09
Sweden's Volvo Group announced plans on Tuesday to cut 160 white collar jobs at its aeronautics arm while at the same time more than 300 other workers were told their jobs had been spared. READ »

Swedish auto town cannot imagine life without Saab

Analysis & Opinion: 8 Jun 09
For the 55,000 residents of Trollhättan in southwestern Sweden, the idea of life without Saab is unthinkable, writes AFP's James Franey. READ »

EU approves Volvo loan guarantees

Business & Money: 5 Jun 09
The European Commission has approved the Swedish government’s request for loan guarantees for Volvo cars. READ »

Volvo Group cancels planned layoffs after union deal

Business & Money: 29 May 09
Sweden's Volvo Group has scrapped plans to make 600 employees redundant following the completion of a deal with Swedish unions to cut working hours instead, the company announced on Friday. READ »

Belgium aids Volvo in bid to protect jobs

Business & Money: 25 May 09
The Flemish government has responded positively to an appeal from Volvo Cars CEO Stephen Odell to support its Belgian operations including guaranteeing European Investment Bank loans. READ »

Summer rail destinations: Gothenburg

Travel: 15 May 09
Having long been defined by its industrial and maritime history, Göteborg has since reinvented itself. The old ports and warehouses have been replaced by cafes, bars, and one of the liveliest cultural scenes in the region. READ »

Scania to save jobs in Sweden with 4-day work week

Business & Money: 15 May 09
Truckmaker Scania announced on Friday plans to implement a 4-day week in June for its 12,000 workers in Sweden in an effort to avoid redundancies as the economic crisis continues to take its toll on truck sales. READ »

Volvo Cars turns to Belgium for loan help

Business & Money: 14 May 09
Following a breakdown in talks between Volvo Cars and the Swedish government over loan guarantees, the automaker now plans to ask authorities in Belgium for help securing a loan from the European Investment Bank (EIB). READ »

Job cuts key to Swedish auto sector survival: experts

Business & Money: 13 May 09
The path to survival for Sweden’s auto industry is cutting jobs and focusing on niche products, experts said on Wednesday. READ »

No European loan for Volvo Cars

Business & Money: 7 May 09
A bid by Volvo Cars to secure a €200 million ($266 million) loan from the European Investment Bank fell apart after talks with the Swedish government broke down, the company said on Thursday. READ »

Factory workers boo Volvo Group CEO

National: 29 Apr 09
Volvo Group CEO Leif Johansson was booed and heckled by disgruntled employees during a visit to a Volvo truck plant in Tuve near Gothenburg. READ »

Scania sees profits and orders plummet

Business & Money: 27 Apr 09
Net profits at Swedish truckmaker Scania plunged 93 percent to 179 million kronor for the first quarter ($21.8 million), the company reported on Monday as orders for new vehicles also took a dive. READ »

Losses at Volvo as demand hits the skids

Business & Money: 24 Apr 09
Swedish truck maker AB Volvo confirmed mounting losses for the first quarter on Friday, reporting that demand has collapsed in the wake of the financial crisis. READ »

More layoffs at Volvo Group

Business & Money: 22 Apr 09
Volvo Group announced on Wednesday it was cutting an additional 1,543 jobs in Sweden, with most redundancies coming at the group’s Volvo Truck division. READ »

Volvo recalls 21,000 cars over faulty fan

Business & Money: 21 Apr 09
Sweden's Volvo Cars is set to recall over 21,000 vehicles across Europe due to reports of faulty cooling fans, according to a company spokesperson on Monday. READ »

Chinese suitors plan visit to Volvo Cars: report

Business & Money: 20 Apr 09
Chinese auto company representatives interested in buying Volvo Cars from Ford will be heading to Sweden next week to visit the troubled Swedish carmaker’s European headquarters. READ »

Judgment day for Saab as creditors gather

Business & Money: 6 Apr 09
The future of beleaguered Swedish car maker Saab hangs in the balance on Monday as creditors gather in court to determine if the group's restructuring process can continue. READ »

Unpaid blogger risks losing unemployment benefits

Society: 2 Apr 09
A former Volvo worker in southern Sweden has been told to stop blogging for his local newspaper if he wants to retain his unemployment insurance. READ »

GM deadline puts pressure on Saab

Analysis & Opinion: 31 Mar 09
Washington's decision to hand General Motors a new deadline to reach viability and to demand it sack its chief executive could put more pressure on the company's beleaguered Swedish subsidiary Saab, analysts said on Tuesday. READ »

Thieves take two-tonne carousel for a ride

Society: 30 Mar 09
Police in northern Sweden are on the lookout for an old-style funfair carousel that was stolen on Saturday from the roadside near Näsviken. READ »

'Chinese firms too small for Volvo takeover'

Business & Money: 29 Mar 09
Chinese car makers are too small to take over troubled Swedish firm Volvo despite the persistent rumours of an imminent bid, market analysts have said. READ »

Charges in Sweden's largest insider scandal

Business & Money: 27 Mar 09
Charges were filed on Friday against six men in what is being called the largest insider trading scandal in Swedish history. READ »

Rumoured Volvo deal halts trading for Chinese automaker

Business & Money: 27 Mar 09
Rumours of a potential deal for troubled Swedish automaker Volvo forced China's largest independent carmaker Geely Automobile to suspend trading of its shares on Friday. READ »

Buyers eyeing Volvo Cars: Ford

Business & Money: 25 Mar 09
US car maker Ford revealed on Wednesday it is in detailed talks with potential buyers for its Volvo Cars subsidiary. READ »

Volvo forecasts steep drop in European truck demand

Business & Money: 25 Mar 09
The head of Swedish truck maker Volvo said Tuesday that European sales would drop 40 percent in 2009, but that demand elsewhere is expected to pick up before year’s end. READ »

'No bonuses at state-owned companies'

Business & Money: 24 Mar 09
The Swedish government has said it wants to end bonuses and variable compensation for executives at state-owned companies. READ »

Bullet sent to Sweden's finance minister

National: 20 Mar 09
A letter with a .22-calibre bullet arrived at the offices of Swedish Finance Minister Anders Borg on Thursday courtesy of a leftist extremist group angered by bonuses paid to executives at state-owned companies. READ »

Volvo Cars freezes salaries to avoid redundancies

Business & Money: 12 Mar 09
Swedish car maker Volvo Cars announced on Thursday a freeze on salaries of all employees and slash executive pay in an attempt to avoid further redundancies. READ »

Saab announces Trollhättan layoffs

Business & Money: 12 Mar 09
Saab Automobile has given notice to 750 employees that their jobs at the company’s Trollhättan facilities in central Sweden may be cut. READ »

Swedish auto firms secure European loans

Business & Money: 11 Mar 09
Swedish car maker Volvo Cars, and truck makers Volvo Trucks and Scania, have secured loans totalling one billion euros ($1.26 billion) from the European Investment Bank. READ »

Swedish group among Volvo bidders: report

Business & Money: 10 Mar 09
A group of Swedish-led investors may be preparing a bid to buy Volvo Cars, according to a media report. READ »

Volvo execs charged for Saddam-era bribes

Business & Money: 6 Mar 09
Three executives from Volvo’s construction equipment subsidiary have been charged for paying bribes to the regime of Saddam Hussein to skirt restrictions related to the United Nations’ Oil-for-Food Programme. READ »

Swedish autoparts maker goes bankrupt

Business & Money: 5 Mar 09
Swedish autoparts supplier Plastal, which provides parts to both Volvo and Saab, announced on Thursday it had filed for bankruptcy. READ »

Volvo drops bid to boost executive pay

Business & Money: 4 Mar 09
Sweden’s Volvo Group said it was scrapping a proposal to raise executive bonuses on the same day its truck making subsidiary announced it was halting production at one of its plants. READ »

GM chief proposes Volvo-Saab merger

Business & Money: 3 Mar 09
Senior General Motors executive Bob Lutz has suggested that a solution to the problems faced by Swedish car firms Volvo and Saab would be to merge them - "that way both we and Ford get rid of a problem." READ »

Volvo pay raise 'insulting': Reinfeldt

Business & Money: 2 Mar 09
Volvo Group’s plan to raise the salaries of 250 top executives is “insulting” according to Prime Minister Fredrik Reinfeldt. READ »

Sweden’s national parks celebrate 100 Years

Travel: 27 Feb 09
Scattered across Sweden's vast landscape are the oldest and some of the finest national parks in Europe. Alec Forss charts their history and picks out five of the best. READ »

Volvo Group to boost executive pay despite losses

Business & Money: 27 Feb 09
Sweden’s Volvo Group announced on Thursday it had approved pay raises for 250 high-ranking executives this year, despite heavy fourth quarter losses at the world’s second largest truck maker. READ »

Volvo approves massive investment in new trucks models

Business & Money: 26 Feb 09
Swedish truck maker Volvo Group plans to make a groundbreaking investment of at least least €1.8 billion ($2.3 billion) to develop of new truck models this year. READ »

Sweden to back Volvo's European loan bid

Business & Money: 24 Feb 09
Volvo Cars is likely to get support from the Swedish government in its request for a substantial loan from the European Investment Bank. READ »

Sweden's jobless rate climbs by 14 percent

Business & Money: 19 Feb 09
The unemployment rate in Sweden jumped up over 7 percent in January, according to new statistics released on Thursday. READ »

GM plan leaves Saab’s future in doubt

Business & Money: 18 Feb 09
Swedish automaker Saab may find itself filing for bankruptcy protection “as early as this month” if its US parent General Motors (GM) doesn’t get financial assistance from the Swedish government. READ »

Dating in Sweden: sex, booze and mobile phones

Dating: 16 Feb 09
As American blogger Kommissarie F. Curiosa prepares to wrap up her almost seven-year sojourn in Sweden, she shares her reflections on Swedish mating and dating with The Local. READ »

Sweden: no collapse in Saab talks with GM

Business & Money: 16 Feb 09
The Swedish government denied reports in a breakdown in talks between beleaguered US automaker General Motors (GM) and Sweden over the future of Saab. READ »

Volvo Group says no to French loan for Renault

Business & Money: 11 Feb 09
Sweden’s Volvo Group has rejected a loan from the French government designed to help the truck maker’s troubled Renault Trucks subsidiary survive the current economic crisis. READ »

Sale of Volvo Cars advancing: report

Business & Money: 6 Feb 09
Representatives from Ford will be meeting with investment banks in London next week to discuss the potential sale of its Volvo Cars subsidiary, Sweden’s leading business daily reported on Friday. READ »

Volvo Group finishes 2008 with huge loss

Business & Money: 6 Feb 09
Heavy vehicles maker Volvo AB reported a pre-tax loss of 2.5 billion kronor ($300 million) in the fourth quarter, compared to a profit of 5.6 billion the same period a year before. READ »

Volvo applies for massive European loan

Business & Money: 29 Jan 09
Ford-owned Swedish car maker Volvo has applied for a 475 million euro loan from the European Investment Bank, the Swedish government said on Thursday. READ »

'Bring back scrap bonus': Volvo

Business & Money: 28 Jan 09
The head of Volvo Cars has called on Sweden's government to help stimulate the auto industry by reintroducing a cash incentive scheme for scrapped cars. READ »

'GM must outline plans for Saab': Sweden

Business & Money: 27 Jan 09
A Swedish government official has said the country will not pay out state credit guarantees from General Motors until Saab's US owner can present a more credible business plan for its Swedish subsidiary. READ »

Government details crisis measures

Business & Money: 22 Jan 09
The government on Thursday presented a government bill containing measures to counteract Sweden's current economic crisis, including emergency loans to the country’s struggling auto sector. READ »

Volvo Cars to cut production in Sweden

Business & Money: 16 Jan 09
A drop in demand has moved Volvo Cars to reduce production at its main plant in Sweden in January and February, the company said on Friday. READ »

Volvo plans 1,620 layoffs

Business & Money: 13 Jan 09
Volvo Group has given notice to 1,620 workers in Sweden, the company announced on Tuesday afternoon. READ »

Official: Sweden won't own Saab or Volvo

Business & Money: 13 Jan 09
After meetings with executives from General Motors and Ford, a Swedish government official reiterated that the state had no intention of buying Saab and Volvo. READ »

GM denies problems selling Saab brand

Business & Money: 9 Jan 09
Saab Automobile owner General Motors on Thursday rejected reports it was having trouble finding any buyers interested in acquiring the troubled Swedish car brand. READ »

Boys trapped under ice in souped down Volvo

National: 7 Jan 09
Two boys from western Sweden escaped without injury after their Volvo "tractor" sank to the bottom of an ice-covered lake near Karlstad. READ »

Debt agency calls for greater compassion

Business & Money: 5 Jan 09
Several civil servants have called for Sweden to take a more compassionate approach to people in debt. READ »

2008: The year in review

Lifestyle: 31 Dec 08
As 2008 draws to a close, The Local takes a look back at some of the stories that caught our attention over the last twelve months. READ »

Economic crisis ends Russian Volvo race challenge

Sport: 26 Dec 08
Team Russia has withdrawn from the round-the-world Volvo Ocean Race because of insufficient funding during the worldwide economic crisis, team backer Oleg Zherebtsov said. READ »

Volvo Cars not to contest manslaughter verdict

National: 22 Dec 08
Volvo Cars has said it will not appeal against a ruling in a French court ordering the Swedish car maker to pay a €200,000 fine for manslaughter relating to a fatal crash in 1999. READ »

Volvo Cars guilty of manslaughter

National: 18 Dec 08
An appeals court in France on Thursday affirmed a €200,000 ($300,000) fine against Volvo Cars, finding the Swedish automaker guilty of manslaughter in a case resulting from a fatal 1999 car crash. READ »

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