• Jun 25, 2008
Ford might be looking to sell Volvo to a Chinese company according to a report by Dagens Industri and followed up by Automotive News. Sources are saying that Shanghai Automotive Industry Corp. may be one of the potential suitors, while a Russian investor has also expressed interest in Ford's Swedish arm. FoMoCo's CEO, Alan Mulally began a strategic review of the automaker last year and the possible sale of Volvo was reported to be in the cards. However, Ford denied such a plan at the time and when AN contacted a Ford spokesperson for comment about the report today they said, "We have been consistently saying since the end of last year that Volvo is not for sale. We are focused on improving Volvo's business results."
Regardless, news of the possible sale of Volvo comes on the same day Ford announced that 2,000 workers will be laid off in an effort to cut costs due to an overall weak market and rising material costs. Volvo is hoping to slash around $662 million in costs, with the primary cuts coming from workers in Sweden. 1,200 workers were informed of the cuts today, and overall, 1,400 white-collar staff and 600 blue-collar jobs are on the chopping block.

[Source: Automotive News – Sub. Req.]


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  • 52 Comments
      • 6 Years Ago
      None of the suitors above sounds good enough to me. SAIC is still has not reintroduce MG with promises in August which we still don't know if it is just another promise or not. My message to them is : GET MG RIGHT FIRST THEN THINK ABOUT VOLVO !

      The Russians ? well not being sour here but their largest national brand Lada is struggling all the way since establishment till now, there is something that they just cannot get it right that they are now only in the low end of the Russian markets, and to add pepper to the injury, since the entry of the Chinese cars, Lada has been losing market share. So before thinking about saving Volvo, I think the Russian investors should help to save Lada first.

      What I don't understand is Ford promised not to sell Volvo after the Land Rover and Jaguar deal. Why they break their promise, and are they really in real bad shape to the extent of selling so many arms lately ?
      • 6 Years Ago
      Dear BMW,

      Buy Volvo.

      plzkthxbye
      • 6 Years Ago
      such a shame.
      nice going ford, way to ruin another good thing, and screw the companies home base employees.

      if i wasnt american, I'd really start hating US.
      • 6 Years Ago
      I dont care if Ford brings the super Focus and Fiesta over from Europe, if they ruin Volvo by selling it to China I will spew vitrol all over Ford for the rest of my life and never buy a Ford (not that I ever have).
      • 6 Years Ago
      This is terrible news for Volvo lovers like me. I don't know if I could ever buy a Volvo again if this happens.

      Just to give you an idea of my enthusiasm for Volvos: http://www.swedespeed.com/news/publish/Features/article_862.html
        • 6 Years Ago
        nice freaking ride frank.
        very nicely done.
        • 6 Years Ago
        WTF.

        I hate you for ricing a Volvo.
      • 6 Years Ago
      Oops, did I say come one? I meant "come on" sorry.
      • 6 Years Ago
      Volvo brand does not want Volvo cars. They sold it to Ford because they were losing money.
      • 6 Years Ago
      BMW is the perfect buyer for Volvo. Similar pedigree and one is a front driver company, the other a rear driver company. I'd love to see that or Volvo AG buy it back.
      • 6 Years Ago
      Volvo are doing well at the moment, But that might not be the case in the future. After losing so much money over the years, Ford has to start looking out for itself, and reduce any future liability, The sooner they do this by offloading the better.
      • 6 Years Ago
      Here's an idea: Let's just sell EVERYTHING to China. That'd be so cool.
        • 6 Years Ago
        After we have sold everything to the Chinese we can throw in the U.S. Congress free as a bonus and a sign of our good will.
        It shouldn't take the current crop of elected clowns more than 10 years to screw up China as badly as they have screwed up America. Then we can buy back everything from China, and they can keep the Congress as a bonus and a sign of our goodwill.
        • 6 Years Ago
        Yes, info, yes it is.
        • 6 Years Ago
        Since China has supplied a huge amount of the funds that put the US into such this obscenely huge national debt, isn't that the case anyway?
      • 6 Years Ago
      I'm confused. I read that there are suitors. I read that Ford says they're not interested in selling.

      Why do we all assume Ford is looking to sell?
      • 6 Years Ago
      I think Ford/Volvo is a good fit. I would be surprised if they do sell Volvo. Having said that if Ford does decide to sell, they should sell to whomever gives them the best price. Ford is trying to survive, they can't worry about the hurt feelings of Volvo owners if they sell.
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