2000 Volvo V40 Base Wagon 4-door 1.9l on 2040-cars

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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.

Volvo to shake off Ford ties with new platforms, engines

It would seem Volvo is finally getting around to throwing all of Ford's things out of the apartment. Automotive News reports the Swedish automaker is preparing to unleash a range of new engines as well as a fresh platform designed entirely in house. The powerplants include an all-new four-cylinder engine set to bow before the end of this year before arriving in the US by 2014. Shortly thereafter, the world should get its first glimpse at the next-generation XC60, which will the company's first model to make use of the Volvo scalable platform architecture (SPA). US buyers can expect to see that machine on their roads by early 2015.
The next V70 and S80 will also use the SPA, though those models will carry V90 and S90 designations when they hit dealer floors. But that doesn't mean Volvo has completely weened itself off of Ford technology. The V40 will continue to ride on Ford bones until the model's next chassis can be co-developed between Volvo and Geely.

Junkyard Gem: 1982 Volvo 244 DL

Because it was sold in the United States for so many years — 19 model years, to be exact — and won the hearts of so many American drivers with its reliability and safety, sufficient examples of the Volvo 200 Series remain in service that they continue to show up in self-service car graveyards nearly 30 years after the last ones left the showroom. We saw a low-mile Richelieu Red 1983 Volvo 244 DL in a Denver-area yard last year, and now I've found a near-identical 1982 244 DL in another yard located between Denver and Cheyenne. Volvo went through several variations in the naming scheme for these cars between 1975 and 1993; during the first half of the 1980s, the 240 was badged using just the trim level. That makes this car a 1982 Volvo DL, the cheapest trim level available at the time. By now, though, everyone who knows old Volvos uses the three-number system of the 1970s, with the second digit indicating the number of engine cylinders and the third digit representing the number of doors. I'll be using the 244 designation here. This car came from the factory with a fuel-injected 2.1-liter SOHC straight-four rated at 112 horsepower. This car has the base four-on-the-floor manual transmission with an overdrive selected via the switch on the shift knob. If you wanted an automatic transmission, you had to pay an extra $325 (just over a thousand bucks in 2022 money). Later in the decade, a five-speed manual became available on the 240. Most 240s rack up better than 200,000 miles during their careers (and I've seen quite a few that made it past 300,000), but this car didn't reach that figure. This car still has its original AM/FM/cassette radio, which would have cost serious money in 1982. The MSRP on this car was $10,260, or about $31,800 in 2022 dollars. The two-door version went for $9,785 ($30,330 now). You could get a new 1982 Buick LeSabre Limited sedan for $9,331, and it was much roomier and more powerful than the VolvoÂ… but not as good in a crash. There's very little rust on this car, and the only serious body damage is this dented passenger-side door. The rodent nesting detritus under the hood and the lack of wear on the seat fabric suggests that it got parked for good a decade or three back. Perhaps it would have been rescued and revived in the rustier parts of the continent, but there's a glut of restorable 244s and a shortage of Volvo enthusiasts in the Denver area. This content is hosted by a third party.