Ford announced today that it's "re-evaluating strategic options for Volvo Car Corporation", which in plain English means that it may sell the Swedish brand that it's owned since 1998. The Dearborn-based automaker says this re-evaluation will take about three months, during which Ford and Volvo will work together as they always have. While the sale of Volvo will be no doubt be decided upon during this time, Ford has also said it will be working on propping Volvo up as a stand-alone business since the Premier Automotive Group, which once included Volvo, Jaguar, Aston Martin and Land Rover, has been dismantled. There's no mention of how much Ford thinks it can get for Volvo or whether any companies have actually expressed interest in the foreign brand known most for slavish devotion to safety. Though Volvo sales have been down sharply this year, the same can be said for virtually every brand in the industry. Potential suitors of Volvo may also be interested in the new S60 that will debut next month at the Detroit Auto Show and may improve the brand's fortunes.
[Source: Ford]
Continue reading Swedish Sell-A-Thon! Ford reconsiders selling Volvo
Swedish Sell-A-Thon! Ford reconsiders selling Volvo originally appeared on Autoblog on Mon, 01 Dec 2008 10:59:00 EST. Please see our terms for use of feeds.
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