Geely A subsidiary of the group, Geely Auto, had its IPO on the Stock Exchange of Hong Kong in 2004. The company had a booth at the 2005 Frankfurt Motor Show, and a 2006 showing at the Detroit auto show. Geely approached Ford in mid-2008 about a possible takeover of Volvo Cars. On October 28, 2009, it was named as the preferred buyer of Volvo by the American automaker. A deal was reached in late March and completed in early August, 2010. In 2010, total sales of over 415,000 units gave the company a near 2% market share. Sales were lower
Subsidiary other is not. In descriptions of larger corporate structures, the terms "first-tier subsidiary", "second-tier subsidiary", "third-tier subsidiary" etc. are often used to describe multiple levels of subsidiaries. A first-tier subsidiary means a subsidiary/daughter company of the ultimate parent company, while a second-tier subsidiary is a subsidiary of a first-tier subsidiary: a "granddaughter" of the main parent company. Consequently, a third-tier subsidiary is a subsidiary of a second-tier subsidiary—a "great-granddaughter" of the main parent company. The ownership structure of the small British specialist company Ford Component Sales, which sells Ford components to specialist car manufacturers and OEM manufacturers, such as Morgan