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Volvo Cars or Volvo Personvagnar AB was originally formed as a subsidiary company to the ball bearing maker SKF founded in 1927 is a Swedish automobile manufacturer currently owned by Ford Motor Company.
As part of its Premier Automotive Group when it was acquired by the Ford Motor Company, Volvo Cars was owned by AB Volvo until 1999. With 2,500 dealerships worldwide in 100 markets, Volvo produces models ranging from SUVs, wagons, and sedans to compact executive sedans and coupes. Volvo increased its market share in new markets such as Russia, China and India while its share is shrinking in the North American market. By the end of 2007, Volvo expected double sales in Russia making one of the ten biggest markets for the company and already boasts the leading position in Russia's luxury car segment. From the boxy styles favored in the 1970s and 1980s, more recent models have moved away and built a reputation for sporting performance. Second only to Mercedes, the average age of a Volvo being discarded is 19.8 years. Volvo dealers are listed by Forbes as the 9th best general car manufacturer and 6th best for luxury cars in the USA and the reliability is considered better than average.
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