Premier Automotive Group preferred buyer of Volvo Cars by Ford. On 23 December 2009, Ford confirmed that all substantive commercial terms for the sale to Geely had been settled. Geely signed a deal with Ford to acquire Volvo Cars for $1.8 billion on 28 March 2010 and closed the deal on 2 August 2010. <ref name="www.ford.com/about-ford/news-announcements"></ref> Premier Automotive Group The Premier Automotive Group (PAG) was an organizational division within the Ford Motor Company formed in 1999 to oversee the business operations of Ford's high-end automotive marques. The PAG was gradually dismantled from 2006 to 2010 with the divestiture of its constituent brands. The
Geely MR Geely MR The Geely Merrie is a subcompact car produced by chinese automaker Geely Automobile from 2003 to 2009. The MR is produced in five-door hatchback (Merrie / 美日) and four-door sedan (Uliou / 优利欧) body styles. The MR is based on the Daihatsu Charade platform, which Geely licensed from Xiali. Its base underpinnings are also shared with the HQ/Haoqing and Rural/Urban Nanny. The MR was shown at the 2005 Frankfurt Motor Show along with four other Geely models. The Merrie is a five-door hatchback that looks like a sedan due to a short protruding trunk. It was introduced in