Volvo Manufacturing  

As a leading Volvo Dallas dealership, Crest Volvo Cars provides buyers with affordable and luxury choices, and our dealership is proud to be a part of the community. So, it brings us joy to announce that Volvo Cars recently signed an agreement to take full ownership of its Chinese manufacturing and sales operations.

Encouraging Growth and Momentum Continues for Industry

The potential for strengthening Volvo Cars in China and maximizing exposure to an already enormous market is promising for the auto industry in the region. Experts all agree that it is the fastest-growing region globally. And with an additional 50 percent of the shares in Daqing Volvo Car Manufacturing Co., Ltd and Shanghai Volvo Car Research and Development Co., Ltd, Volvo Cars has positioned itself to become the first major non-Chinese automaker to have majority control over its Chinese operations. The luxury automaker will be able to advance the exposure even further with this well-executed deal.

The acquisition comes when growth and momentum in recent years have significantly pivoted faster than the average sales market in China. Sales in the region have grown in 2021, with an increase of 44.9 percent compared to the same period in 2020. That is a significant growth that Volvo Cars is relying on for the predicted successful outcome of the transaction. The increase makes it the eighth consecutive sales record in the Chinese sales market.

Planned Completion Timeframe for Partnership

In a joint statement obtained by Crest Volvo Cars in Fresno, the two venture companies were transparent with financial statements specifically stating that Volvo Cars’ share of the net income and equity will increase upon completing the unprecedented transaction. That means, with intending to take full ownership of its car manufacturing plants and sales operations in the country, there is a high probability of further expansion and growth for the luxury automaker. There are regulatory requirements that are awaiting approval. However, the expectation for the completion of the transaction is planned in two stages, beginning in 2022 and formally completed no later than 2023.

If you want to find out more information about the acquisition by Volvo Cars, contact our dealership. We are more than happy to provide additional details about this exciting announcement. And as a reminder, we have a great selection of new and used Volvo cars, coupes, and SUVs. Volvo Cars of Fresno is committed to ensuring that all drivers can find the luxury Volvo of their choice.