• Jan 26th 2009 at 4:39PM
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Emerging reports indicate that Ford is moving ahead with the sale of Volvo Cars with a determined push to find a new buyer around the middle of February. Although it's undoubtedly a bad time to be selling, Ford needs the cash on hand and a streamlined corporate structure in order to weather the current storm without going into debt.
As was previously suggested, Chinese automakers – including Shanghai (SAIC), Chery and Guangzhou – are looking like the most likely buyers for the Swedish automaker. Although details have not been made public over which prospective buyers Ford is approaching, industry analysts note that most European automakers would have an issue with overlap, while Indian auto giant Tata has enough on its plate with Jaguar and Land Rover.

[Source: Detroit News]

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