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 LC facelifted version of the car known as the Geely Yuanjing X1. As of 22 December 2010, popular Chinese e-commerce retailer Taobao Mall sells the LC online although buyers must put down a 288 yuan deposit and visit a local dealership for a test drive prior to purchase. The LCs on offer are not delivered to your door and may differ from those available through more-traditional retail channels. First day online sales totalled near 500. The LC's styling has been recognized for its exceptional exterior, which manufacturer Geely says is "bionic" and resembles a panda but that some criticize for resembling