Word: volvo
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Dates: during 2000-2009
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...Rover from BMW for $2.6 billion in 2000, must be relieved. Especially since Ford, which lost $5.45 billion last year, is making Range Rover and other luxury European models central to its latest restructuring plan. By 2005, the U.S. automaker wants its Premier Automotive Group (PAG) - Land Rover, Jaguar, Volvo and Aston Martin, plus Lincoln, its upmarket American marque - to contribute 35% of its profits, up from a current 13%. To accomplish that, overall sales of the five brands must soar 51%. That's a tough goal, but PAG president Wolfgang Reitzle is confident. "We have a robust strategy...
...cars, Ford offers a similar price range divided among four brands. Reitzle says his products fit into every premium niche and still retain their exclusivity. While competitors are stretching - and possibly overstretching - their brands from the top to the bottom of the premium market, PAG can use Volvo to tap the (relatively) lower end while Aston Martin caters to the very wealthiest buyers...
...Martin, James Bond's favorite sports car, currently starts at $150,000 but is planning an "entry level" model - at $92,000. As for the other PAG marques, Jaguar turned a profit of $100 million last year, its first since Ford acquired it in 1989, and sales are improving. Volvo, the family car of choice, made $700 million and remains the group's workhorse. Indeed, Ford is a quintessential American company that grew huge by creating the mass automobile market. Ironically, its future now rests in large part with a handful of low-volume, élitist cars made in Europe...
Only the return of the car’s owner—prestigious law professor Charles Ogletree, as it turns out—ends the short, unhappy bout with Benz-sitting. Ogletree gives us a lift back to Cambridge, where we find the Gellis family Volvo waiting...
Seen from the 2000s, our musical secession was just another facet of the secession of an entire group of Americans that declares itself a nation--different, cooler, better--through its brands: Maglite, Volvo, Apple. Alternative consumption, if you will. Is it any surprise that this market includes people who, as teenagers, were combing record bins for 12-in., imported Depeche Mode singles--pricey, sure, for just a few minutes of music, but of such higher quality...