Volvo was born on April 14, 1927, when the first car, ÖV4 (nicknamed Jakob) left the factory in Gothenburg.
The 1920's was the decade when cars made a real breakthrough, both in the USA and Europe. In Sweden, people's interest in cars was seriously aroused in 1923 as the result of a jubilee exhibition in Gothenburg attended by 97 car exhibitors.
Older models were often compared to tractors, partly because Volvo AB was and still is a manufacturer of heavy equipment, earlier Bolinder-Munktell, now Volvo Construction Equipment. Considered by some to be slow and heavy, they earned the distinction "brick" as a term of endearment for the classic, block-shaped Volvo, with the more powerful turbo charged variants known as "turbobricks".
Quality was of paramount importance to the men who founded Volvo.This basic concept, which was formulated back in 1926, still applies to Volvo's way of making cars.The US traffic safety administration (NHTSA) purchased a number of Volvo 240's, which were used to set the safety standards against which all new cars on the US market were tested.
Ford Motor Company decided to consider putting Volvo Cars on the market in December 2008 after suffering huge losses that year. On 28 October 2009, Ford confirmed that the preferred buyer of Volvo Cars is Chinese motor manufacturer Geely after considering several offers. On 23 December 2009, Ford confirmed that all substantive commercial terms the sale to Geely have been settled and a definitive accord would be signed in early 2010 and the deal expected to be closed by Q2 2010.