Ford has confirmed it won’t be selling Volvo anytime soon but that doesn’t mean it will be heavily involved in the day-to-day running of the company. Instead, the Blue Oval is expected to play a more limited role in Volvo’s future with officials currently developing a new business plan that includes Volvo operating on a more stand-alone basis.

At a recent presentation, Ford officials displayed slides stating that it wants to "establish appropriate business arrangements to allow Volvo to operate on a more stand-alone basis." It also said a "top priority is to return Volvo to sustainable profitability," reports Automotive News.

Volvo has consistently been the most profitable label in Ford’s former Premier Auto Group (PAG), which included the likes of Jaguar, Aston Martin and Land Rover, but even now Ford is yet to release financial data for Volvo.

Late last year there were rumors Volvo could be sold off as well, just like the other PAG brands. The rumors arose because of news BMW officials had travelled to Sweden to investigate Volvo’s financial records. Ford quelled the rumors when it announced it would integrate Volvo more closely into purchasing and development efforts.

Volvo XC60 Crossover