The executive that started the rumors, Changan president Xu Liuping, has revealed to Reuters that his original comments were misquoted by the Chinese newspaper that originally ran the report. Liuping has now commented that he has no knowledge of any talks between Changan and Ford over the sale.
Ford is already tied with Chongqing Changan Automobile - a subsidiary of Changan Auto that builds the Focus sedan for the local market – and there are always negotiations between the two companies taking place.
Industry sources, meanwhile, say the Detroit 3 have already approached a range of Chinese firms about possible asset sales, though slowing demand in even the traditionally strong Chinese market has most companies wary of any major acquisitions.