Latest Automotive News

Subscribe in a reader

Auto Price Quote
Get a free auto price
quote from Edmunds!

Ford preparing to sell Volvo

Email   small font medium font large font


LONDON (AP) _ Ford Motor Co. is preparing to sell Volvo, a British newspaper reported Sunday.

The Sunday Times, citing unnamed sources in London, said the decision to sell Volvo was made in the past two weeks, but that the timing of the sale had yet to be decided.

No bank had been appointed to handle the transaction, the newspaper said, adding the deal could be worth US$8 billion.

Ford acquired Volvo from Sweden's Volvo AB in 1999.

Dearborn, Michigan-based Ford sold Aston Martin for US$848 million in March, with some analysts saying the luxury brand did not fit into Ford's long-term survival plan. That plan includes cost savings by developing multiple models worldwide on the same underpinnings.

The possible sale of Volvo comes as the company is struggling to return to profitability in the face of fierce competition from Asian automakers and developing tastes for more fuel-efficient models in its key North American market. It is slashing thousands of jobs and plans to close plants to cut costs.

Receive the latest automotive news by email!

Enter your email address:

Find the new car you want on

Related news
LONDON (AP) _ Ford Motor Co. said Tuesday it was reviewing its position on Jaguar and Land Rover, fuelling speculation that the Dearborn, Michigan-based company is getting closer to selling them. John Gardiner, ...
LONDON (AP) _ Ford Motor Co. said Tuesday it was reviewing its position on Jaguar and Land Rover, and union officials pressed for more information amid reports that the two brands were ...
Ford Motor Co. has picked India's Tata Motors Ltd. as the top bidder to buy Ford's Jaguar and Land Rover units, the U.S. automaker said Thursday. Ford said it has entered into ``focused ...
DETROIT (AP) _ Ford Motor Co. has received several bids for its Jaguar and Land Rover units, but a spokesman said they were preliminary and no sale of either British automaking business ...
DETROIT (AP) _ Ford Motor Co. (NYSE:F), after losing $123 million in the second quarter, is starting a review of poorly performing units including Jaguar, with an eye toward possible sale of ...
Ford Motor Company [NYSE: F] announced today that it has entered into a definitive agreement to sell its Jaguar Land Rover operations to Tata Motors.  The transaction is the culmination ...
Ford Motor Co. is still evaluating bids from three suitors for its Jaguar and Land Rover units, and a sale is not likely until early in 2008, according to a person who ...
GOTEBORG, Sweden (AP) _ Ford Motor Co. (NYSE:F) said Friday it will build a centre for developing new fuel-efficient hybrid systems in Goteborg, where its subsidiary Volvo Cars is located. The centre will ...
The Swedish tax authority said Wednesday it has ordered Volvo Cars AB to pay about US$37.2 million in back taxes, saying it filed incorrect income statements for 2005 and 2006. ...
Automobile maker Volvo Cars is recalling 56,000 vehicles because of two separate problems. Volvo Cars spokeswoman Maria Bohlin said 38,000 diesel cars of the S60, V 70 XC 70 and XC 90 models ...

Best Investment Newsletter

- 46% in 2008

- invest in the best performing US stocks only and sell them when the uptrend is over

- very easy to follow, simple buy/sell signals

- no need to have investing or trading experience

Find More Now!

Ford preparing to sell Volvo
> © 2006-2011 except where otherwise noted