So many of the everyday items that we use are now made in China, from our underpants to our computer monitors, but one thing that companies hadn’t yet exported from China to the United States were cars. Yet. A Chinese automaker is entering the U.S. car market, but as an existing familiar brand. Volvo will export 1,500 Inscription sedans made in China. [More]
They always say that cars are the worst investment, since they almost always depreciate in value. But Ford Motor Co. learned the hard way that this holds true for car companies as well. They bought Volvo for $6.45 billion in 1999, only to sell it 11 years later for $1.8 billion.