Volvo is Latin and means "I roll". Volvo was born on April 14, 1927, when the first car, ÖV4 (nicknamed Jakob) left the factory in Gothenburg, Sweden.
Volvo produces models ranging from SUVs, station wagons (estates), and sedans (saloons), to compact executive sedans and coupes. With 2,500 dealerships worldwide in 100 markets, 60 percent of sales come from Europe, 30 percent from North America, and the other 10 percent from the rest of the world.
Volvo owners are proud of achieving high mileage on their cars. It is well documented that one Volvo P1800S has been driven over 2.6 million miles. The average age of a Volvo being discarded is 19.8 years and is second only to Mercedes Benz.
Volvo's are known for their safety. In the 70's US traffic safety administration (NHTSA) purchased a number of Volvo 240s, which were used to set the safety standards against which all new cars on the US market were tested. Year after year, Volvo receives numerous safety awards.
In 1999, Volvo sold its car division Volvo Cars to Ford for $6.45 billion. The Volvo trademark is now shared between Volvo AB, where it is used on heavy vehicles, and the unit of Ford, where it is used on cars. In 2008, Ford decided to sell its interest in Volvo Cars; in 2010, Ford Motor Company signed a deal to sell the brand to the parent of Chinese motor manufacturer Geely Automobile for $1.8 billion, in a deal expected to be completed in the third quarter of 2010.