Welcoming the deal Jac Nasser, chief executive officer of Ford, said: 'We are very pleased that Volvo shareholders have entrusted Ford Motor Company with the future development of Volvo Cars. We are excited to welcome the premium Volvo brand to the Ford family of brands.'
Richard Parry-Jones, group vice-president product development, said: 'We believe Volvo is a strong brand with unique and global appeal that perfectly complements our other brands.' Ford of Britain chairman and managing director Ian McAllister said no decisions had been made as to how Volvo would be integrated 'into the Ford family. He added: 'Volvo will remain a separate entity. We don't want to 'Fordise' the company. The brand identity will remain. We have been very successful with our strategy for Jaguar and it has retained its identity.'