Volvo Car Leasing & Contract Hire

Volvo was incorporated in 1915 as a subsidiary of "SKF" which produced ball bearings. The company considers itself officially founded in April 1927 when its first car, the Volvo OV4 series was launched.

The two men who founded the Volvo as an automobile manufacturer "Assar Gabrielsson" and "Gustav Larson" decided in 1924 to start construction of a car that could withstand the rough roads of cold temperatures of Sweden. This "toughness" has become a feature of all Volvo's.

As the company grew it was introduced to the Stockholm stock exchange in 1935 when SKF decided to sell its shares in the company.

In 1999 Volvo sold its car division to the Ford Motor Company for $6.45 billion. After initial success the company stopped making profits in 2005 and Ford decided to sell the company in 2008.

2010 saw the sale of Volvo completed when Chinese motor manufacturer Geely Automotive bought the company for $1.8 billion.

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