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Ford planning to sell Volvo by Summer?

Ford planning to sell Volvo by Summer?

Alex Kaufmann January 19th, 2008 Alex Kaufmann By Alex Kaufmann Author January 19th, 2008
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December 31st, 1969 Despite official word from both Ford and Volvo that there are currently no plans for the sale of the Swedish carmaker, new reports claim it is up for sale and could change hands for $6 billion by the middle of the year. Late last year Ford officials announced plans to keep Volvo and improve its image by making the brand more upmraket. The Business is now reporting Ford has since dropped those plans and is pressing on it with the sale. The information comes from a senior banker familiar with the situation, who claims Ford will auction off Volvo soon after the Jaguar and Land Rover sale is finalized. This was followed by a second senior banker, who said “sooner or later a serious decision will be made and Ford will get out of Volvo.” Unlike Jaguar and Land Rover, which will be passed on to Indian carmaker Tata in coming weeks, Volvo will likely be sold to a private equity firm.
Ford planning to sell Volvo by Summer?

Ford planning to sell Volvo by Summer?

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Despite official word from both Ford and Volvo that there are currently no plans for the sale of the Swedish carmaker, new reports claim it is up for sale and could change hands for $6 billion by the middle of the year. Late last year Ford officials announced plans to keep Volvo and improve its image by making the brand more upmraket.

The Business is now reporting Ford has since dropped those plans and is pressing on it with the sale. The information comes from a senior banker familiar with the situation, who claims Ford will auction off Volvo soon after the Jaguar and Land Rover sale is finalized. This was followed by a second senior banker, who said “sooner or later a serious decision will be made and Ford will get out of Volvo.”

Unlike Jaguar and Land Rover, which will be passed on to Indian carmaker Tata in coming weeks, Volvo will likely be sold to a private equity firm.

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Comments (1 total)

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  1. By chris #1, Posted: 1/21/2008

    i dont believe it. I think if there was any sort of inclination to sell off volvo, those feelings will be put aside after all the difficulty that ford is having with selling jag and rover, over integration issues.

    volvo is so integrated into ford, it would be the same as GM selling saab. they cant.

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