mass market vs luxury - geely mk2 volvo xc90

As part of its streamlining strategy, Ford sold Volvo to Chinese automaker Geely in 2010. Since then, Sweden's pride has almost disappeared from view as it struggles to replace aging models and lift its image to better compete with German luxury brands. Major strategic issues loom, such as how to protect the high-cost manufacturing base in Sweden while enhancing its appeal of Chinese buyers. Volvo suffered a major setback in October when CEO Stefan Jacoby, author of its $11 billion expansion plan, was replaced after reported clashes with his Chinese superiors.

An earlier version of this story incorrectly identified Chinese automaker Geely as Chery.
  @FortuneMagazine - Last updated December 06 2012 12:49 PM ET
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