It looks like the rumored sale of Volvo is once again in the works as reports have it that the company has moved closer to selling the Swedish auto brand. Ford, grappling with the deepest downturn in U.S. auto industry sales in 27 years, is considering a sale of the business. It has already sold the rest of its premier auto group, Aston Martin, Jaguar and Land Rover.
“We’ve had contact with a number of parties who’ve expressed interest concerning the future of Volvo. Ford’s been pleased with the number and quality of those parties,” John Gardiner, Ford’s European director of strategic communications said, citing a message sent to Volvo employees earlier on Wednesday.
“We’ve had preliminary discussions to determine the level of interest in the Volvo business that they have and we’re now talking in more detail to those parties about the future for Volvo,” he added.
Last month a source with direct knowledge of the matter said Chinese carmaker Chery Automobile had held talks with Volvo cars. Citigroup and JPMorgan are advising Ford.
(Source) Reuters
Tags: Aston Martin, auto group, auto industry, citigroup, jaguar, jpmorgan, Land Rover, swedish auto, Volvo, volvo ford
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[...] back in March when we were talking about all those vague rumors about who wanted to buy Volvo out from under [...]