In 1927, the first Volvo car was built in Gothenburg, Sweden. Ever since, the Volvo Group has been regarded to be a global leader in safety technology and innovation. Nowadays Volvo is one of the world’s most well-known, respected car brands with sales in over 100 countries. Volvo Cars is owned by the Chinese Zhejiang Geely Holding (Geely Holding) Company. Volvo Cars was part of the Swedish Volvo Group until 1999, when it was acquired by the Ford Motor Company. In 2010 Volvo Cars was acquired by Geely Holding. The Company is traded on the NASDAQ Stockholm, where it is traded as “VOLCAR B”. The name Volvo has been owned by Volvo Trademark Holding AB, which is owned jointly by Volvo Cars and the Volvo Group. In 2021, Volvo Cars sold 698,693 vehicles and had a headcount of approximately 41,000 full-time employees. The Head Office, Product Development, Marketing and Volvo Cars Management are all in Gothenburg, Sweden. The production plants are located in Gothenburg (Sweden), Gent (Belgium), South Carolina (USA), Chengdu, Daqing and Taizhou (China). The Company has R&D and design centers in Gothenburg, Camarillo (USA), Sunnyvale (USA), and Shanghai (China).
As far back as the 1930’s, Volvo’s various models were sold in Israel, where in 1967 the Late Mayer Kaz established the Mayer Cars and Trucks Co. Ltd. The Company began marketing the Volvo cars in Israel in an effort to lead the vehicle sector in Israel and provide the customers with a genuine interaction and purchasing experience. Since then Mayer has sold tens of thousands of Volvo vehicles, bringing safety, technological leadership and design innovation to the domestic market. In 1971 Mayer gained worldwide recognition when it was awarded Volvo’s Outstanding Agency Award. In those years Volvo was marketed as a reliable luxury vehicle. It gained further prestige when it was selected as the vehicle that served government ministers and senior civil servants. Volvo’s cars occupy a special place in the market as one of the most widely-used luxury brands in the country.