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Friday, July 4, 2008 |
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| Ford Might Sell Volvo | |
| Sources close to Alan Mulally, President and CEO of Ford Motor Company, report that Ford might sell Volvo in the near future. Ford thinks about selling the Swedish brand as a step in their reorganization plan. Ford acquired Volvo Cars in 1998 for 6,45 billion dollars and has repeatedly denied the intention of selling it.
Ford might also sell Mercury that has financial difficulties as Wall Street Journal (WSJ) reports. After selling Jaguar and Land Rover, with Volvo and Mercury possibly gone, Ford will have only Lincoln and a stake in Mazda left. In comparison, General Motors owns eight brands and Chrysler three. |
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| When asked about the possibility of selling Volvo Cars, Alan Mulally said "There are a lot of mechanisms that we can use to reduce costs" and refused to comment any further. | |
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Date : 23 Apr 2008 11:01:25 |
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