Executives at Ford have stated publicly that it doesn't plan a sale, however the Wall Street Journal reports that CEO Alan Mulally has told top executives he wants to eventually seek a buyer for the Volvo brand. Previously, Jerry York – a representative of one of Ford’s biggest investors, Tracinda Corp – voiced his own desire to sell Volvo and revealed that it could happen within the next 18 months.
The production cut could potentially affect one-third of Volvo’s staff at two of its plants in Sweden and the news comes less than 24 hours after Volvo announced that it could lay off as many as 700 workers. The most likely plant to see a reduction is Volvo’s Torslanda plant in western Sweden, which is responsible for its larger vehicles such as the V70 (pictured).