Until now, Ford wasn’t willing to comment about reports that claimed Volvo was up for sale. However, Volvo CEO Fredrik Arp told reporters back in March that Ford was committed to the brand and that no sale was likely.
Ford could raise more than $9 billion by selling its Premier Auto Group, which last year posted a combined loss of $327 million. But the Volvo brand is one of the most successful brands in the PAG and its profits offset the huge losses of Jaguar, which amounted to $715 million last year and is expected to lose another $550 million this year.
We wouldn’t be willing to rule out the sale of Volvo just yet. Before the sale of the Chrysler Group to Cerberus, executives on both sides outright denied claims that the sale was imminent, however, we would be very surprised if Ford did let Volvo go.