See 10 years of costly acquisition of Volvo has been sold at a discount to China's Geely Automobile Company, Jacques Nasser, sitting in the BHP Billiton chairman's office do not know Zuoheganxiang.1999, precisely when any of the Ford CEO Jacques Nasser withstand the pressure of the Ford family, the price of $ 6.4 billion acquisition of Volvo.But now, Nasser came to power during the acquisition of Volvo, Land Rover, Ford earlier when the acquisition of Aston Martin and Jaguar, are no longer belongs to Ford.The new Ford CEO Alan Murari complete overthrow of Jacques Nasser M & A expansion strategy for the development direction of "One Ford".But look back 10 years ago, Jacques Nasser as CEO in 2000 but Ford is by far the most brilliant one. Ford 10 years of mergers and acquisitions, in exchange for a sad tears from brilliant to mediocre.1 - expansion of the acquisitionFord's global expansion strategy can be traced back to 1987, the next 10 years, the ultimate global defense strategy has been the investment operations of the Ford-led, and reached its peak in the late 20th century.In fact, in the 1980s of the 20th century, the world automobile industry is popular with a prophecy: the future of the global auto only left with only six large groups, two European companies, two American companies, and two Asian companies. For Ford, the powerful security guarantees.In 1989, Ford acquired a 15% stake in British Jaguar, and in October of that year, the price of $ 2.52 billion acquisition of Jaguar Cars. In 1996, Ford again flex its muscles in Asia, will hold a Mazda equity holdings to 33.4 percent. In 1999, Jacques Nasser began to serve as CEO of Ford, when the high price of $ 6.4 billion acquisition of Volvo Cars. Nasser, Ford has Lincoln luxury cars in the United States, but in the European luxury car market, Ford failed to place. In 2000, Nasser led the acquisition of Ford's luxury SUV brand Land Rover, the purchase price of $ 3 billion.In the past 11 years, the cumulative cost of the Ford Motor Company of outbound M & A reached more than $ 12 billion. If the acquisition of Ford car rental companies, including the calculation of the assets in the period, the amount of Ford for the acquisition of up to $ 20 billion.Even so, Ford Motor Company in the late 20th century, still has to be proud of capital. In 1999, Ford holding the hands of cash up to $ 22 billion in 1997 to 2000, Ford's earnings reached a staggering $ 39 billion. But Ford's luck did not last long, after 12 months, Ford is facing the most dangerous moment in the history. Fuse is the Jacques Nasser and Firestone tires.The famous "Ford - Firestone rollover case not only makes Ford's loss of $ 5.5 billion, almost overnight, Ford's advantage in the automotive world is gone.- Volvo's tragic samplesUnder the impact of the financial crisis, Ford completely trouble. The original high price to buy the car company had to start selling cheap.In 2007, Ford Motor for $ 850 million Aston Martin sold to an investment group in the UK. In 2008, Ford, Jaguar, Land Rover, packaged for sale, the price to $ 2.3 billion, less than 1/2 of the purchase price. That same year, Ford held 20 percent of Mazda shares to sell stake reduced to 13.4%. Price of $ 1.8 billion in 2010, Ford Motor Volvo sale to China's Geely Automobile Company, the sale price less than its purchase 1/3.It is worth mentioning is that after the acquisition of Land Rover, Ford spent billions of dollars, but had not been able to help Land Rover achieve profitability. In 2007, Ford, Land Rover and Jaguar operating loss of $ 1.5 billion. Ford overseas M & A "failure" is evident.But frustrated more than niche brands Jaguar, Land Rover and Aston Martin, joined Ford 11 years of Volvo car very difficult to explain. After the 2000 acquisition of Volvo, Volvo global sales in 2001 reached 42 million, a record high. In addition, Ford can make use of the Volvo, the world's leading technology to improve their own technical strength. Shot before in Ford brand vehicles are still with the Volvo platform production.Ford the ability to operate a European luxury car still could not be verified. Mercedes-Benz, BMW and Audi contest, whether it is in Europe, North America or Asia and other emerging markets, Volvo sales continued to lag behind its competitors. In 2009, Volvo Cars global sales of 334,800, down 10.6 percent. Fell by 120,000 compared to 458,000 in 2007.In China, the Volvo car sales in 2009 was over 20,000 cars, over the same period Audi China sales reached 200,000, 10 times that of the Volvo.Volvo car after the acquisition of the Ford, a long time at a loss situation, its most recent quarterly earnings or in the first quarter of 2007. Volvo losses intensified after the outbreak of the financial crisis. The third and fourth quarter 2008 and first quarter of 2009, Volvo margin minimum of -22.72%. 2008 Ford To Volvo for sale, when Volvo's loss of up to $ 1.5 billion.
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