Truck manufacturer Volvo AB has rejected claims it was considering purchasing the Volvo car division from Ford, to whom it sold it to almost a decade ago. Volvo AB is currently the second largest truck manufacturer and has in the past acquired the Mack and Renault truck companies, but, according to its CEO Leif Johansson, it wouldn’t make financial sense to acquire a carmaker at this point.

Earlier this year, Swedish reports claimed managers at Volvo Cars were keen to merge with a local company rather than being bought out by a foreign carmaker. Speaking with Bloomberg, Johansson said "we are of course very concerned and interested in what happens with Volvo cars, but not such that we would be an investor there."