A lot of people confuse the Volvo Group with Volvo Car Corporation. Though both companies are the flip side of the same coin and both the companies have a good customer data base all over the world however there is a difference in their operations and hierarchy. In this article we will just give a brief overview of both these companies so that the readers and general masses can avoid any kind of confusion. Though a lot can be written about both the companies however will keep our discussion brief and to the point.
The Volvo Group:
The Volvo Group is the name of a popular multinational company of Sweden which has its main headquarters in Gothenburg. The company has been in the market since 1927 and had been catering the customers all over the world through its qualitative automobiles from the last 89 years. The main founders of the company were Gustav Larson and Assar Gabrielsson. The main operations of the company are more related to the manufacturing and distribution of Automobiles like Buses, Trucks and construction equipment of different types.
The company has also made a considerable market in other high tech systems as well such as the supplies related to marine and industrial drive systems as well. The company has also invested in the provision of financial services to the masses as well. Throughout the years the company has produced several brands as well which gained quick market acceptance and popularity. Some of these brands are as follows
- Volvo Trucks
- Mack Trucks
- Volvo Penta
- Nova Bus
- Volvo Financial Services
- Volvo Construction Equipment
- Renault Trucks
- UD Trucks
Volvo Car Corporation:
The Volvo Car Corporation also started its operations in Sweden and the year was 1927. The Company is famous for its different Car models that fascinated people from all over the world. The company was originally the subsidiary of SKF which itself was a company involved in Ball Bearing manufacturing. However in the year 1935 a company by the name of Volvo AB (which later on became Volvo Group) came into the Swedish stock exchange. The SKF Company at that point of time made a major decision and sold the majority of its shares to the Volvo AB.
The Volvo cars continued to enjoy the market share however it went through a major transition when in the year 1999 the Volvo Car Corporation was acquired by the ford motor company. The Volvo cars became the part and parcel of Ford’s premier automotive group. However the incorporation was short lived and in 2010 the company was again acquired by china’s Geely Holding Group.
The Volvo Group does not look after the car manufacturing operations now as the Volvo Car Corporation is a separate entity now since it selling off in the year 1999. The two companies still have the same logo and the famous Volvo Museum is also maintained by both the companies.