2006 Volvo S60 2.5t Sedan 4-door 2.5l on 2040-cars

Auto blog

Used Volvo V70 wagon for $20 million includes New York 'New York' vanity plate

Billed as the world's most expensive Volvo wagon, a dark blue New York-based V70 is currently for sale for $20 million (and probably will be for some time). It's not the car that makes the sale special, though. It's the New York state vanity plate that reads "NEW YORK." Indeed, the ad lists a Volvo but it doesn't even mention the year, mileage or model, and in photos it's still wearing a fresh sheen of road salt. Custom plates are big business in some parts of the world. It also should be noted that the plates are of a recent design and not of the original 1970 issue. New York allows you to update vanity plates to new designs for a small fee. According to the listing on Du Pont Registry, the current owner of the plate suggested that their father buy the plate in the 1970s. This was when New York first began offering personalized plates. Surprisingly, it had not yet been claimed, allowing the family to ride around with the words "New York, New York" plastered on their government-issued vehicle identification for four decades. While the ad claims that the plate, replicas of which are sold in souvenir shops all over the Big Apple, is transferable to any vehicle, we have our doubts. Best we can tell, New York license plates don't stay with the car. The Empire State requires you to surrender your plates when you sell your car, unless you're planning on transferring them to a new car. However, the transfer can only be done, according to the New York DMV, if the names on both registrations are the same. You can't even transfer the plate to your spouse. The same rules apply for personalized plates. If you sell a vanity plated car without an immediate replacement, you can store the personalized plate with the New York DMV and then reinstate them later, but nowhere does it say the plate can be transferred. In fact, the DMV says "The new owner must apply for a new vehicle registration, vehicle plates and a title certificate. The new owner does not use the vehicle plates or the registration items of the previous owner." As our own Joe Lorio put it, "Whoever buys that Volvo might end up with just a very expensive used Volvo wagon."

Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Stolen first production Volvo P1800 recovered

Late last month, we told you about a 1961 Volvo P1800 that had been stolen in Sweden. The thought of losing a classic coupe to an unscrupulous thief is troubling enough, but this wasn't just any P1800 - it was the very first production example minted, and the restored red-over-white two-door was owned by the vice president of the Swedish P1800 Club to boot. Chassis Number Two was pilfered from a Stockholm lockup on either August 21 or 22, and the theft triggered an international hunt of sorts.
Fortunately, that hunt has come to a (mostly) happy ending. According to Larmtjänst AB, a non-profit organization dedicated to fighting vehicle crime in Sweden, the car was spotted by someone who had read about the missing classic. The P1800 was recovered in Hägerstensvägen, a municipality of Stockholm, after being found abandoned on the road covered with a tarp. The owner is reportedly very relieved that his Volvo is mostly intact, marred only by a broken ignition and a dirty interior.