There were talks that German car giant Daimler may possibly buy Volvo from Ford. However after some careful deliberation and study, Daimler passed on the said deal, seeing more drawbacks than benefits which placed Volvo back on the bidding table. BMW likewise had initial interest but eventually declined to push through with their sale.
So where does this leave Ford and Volvo? For now, it does put a dent towards Ford’s intent to unload some product lines that it cannot really handle. Volvo on the other hand is not doing so well. In fact, it has made job cuts as early as June but most of them were in Swedish territory.
According to Der Spiegel, Daimler foresaw problems with harmonizing Volvo parts and practices with its own prestige Mercedes cars, which would require substantial investment and small returns.
It looks like Volvo has to wait for another interested buyer, if any, in the midst of this crisis we are in.
Via Asiaone Motoring
Tags: BMW, car giant, Daimler, der spiegel, Ford, german car, mercedes cars, prestige, Volvo