Ford holding talks with Renault regarding Volvo sale?
At this point, Ford's sale of Volvo appears imminent. The only question now is who wants to take the Swedish automaker off the Blue Oval's hands. Last week we told you of a possible sale as early as mid-February, and now Reuters is reporting that the buyer could be Renault. The two automakers allegedly got together in the fall to discuss the outright purchase of Volvo and now, the two have apparently resumed talks. Volvo and Renault almost combined back in 1993, but management and stockholders at the Swedish automaker were against the merger. Fast forward to 2009, and Volvo is coming off a $1.5 billion loss for 2008, and Ford is draining cash by the bucket. Renault could find a bargain-basement Volvo as a nice fit, considering that it just recently canceled plans to produce a new large car. Volvo's Ford-based large car lineup could slot nicely in Renault's offerings, saving big Euros on development. Some are speculating that Renault, which owns 44% of Nissan, would have Volvo all to itself, though we're sure some sharing between the three automakers is bound to happen if the deal goes down.
[Source: AutoCar]
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Reader Comments (Page 1 of 2)
collegekid13 8:10AM (2/02/2009)
Make it a dollar Bob!
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Avinash machado 8:21AM (2/02/2009)
Yes! Yes! Hope Renault buys Volvo instead of an Chinese auto maker.
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Andrew 8:26AM (2/02/2009)
I have to compliment AutoBlog on finally making it clear that Renault owns Nissan! Or at least the majority of Nissan.
Just to preempt all the comments on Nissan getting this or that from this deal. Not that it matters a whole lot who gets what :)
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F-22 8:27AM (2/02/2009)
I hope Goshn make it Volvo and not Renault-Volvo...if you understand what I mean...
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ken_aisin 8:41AM (2/02/2009)
At least Renault-Volvo sounds better than Chery-Volvo, or Shanghai (SAIC)-Volvo, or Guangzhou-Volvo. Last time I read, these three Chinese companies are also interested in buying Volvo. Who knows what these Chinese auto makers would do to Volvo if they had bought Volvo from Ford....
hypermiler 9:43AM (2/02/2009)
@ ken_aisin
> Who knows what these Chinese auto makers would do to Volvo if they had bought Volvo from Ford....
Most likely "Fire everyone and move the whole plant to China".
ken_aisin 8:41AM (2/02/2009)
Put the 370Z's 3.7 V6 into the V70, and we have a deal :)
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hyundaifans.com 8:57AM (2/02/2009)
Sounds like a good match to me.
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caddy-v 11:46AM (2/02/2009)
Anything constructive to add on topic? Or are you just spamming your pocket protector web-site again?
Jake B 2:00PM (2/02/2009)
More like hyundaisux.com
Mike Serebrennikov 8:58AM (2/02/2009)
No, no, no. What happened to BMW. They should buy Volvo. Granted I'd still rather see Renault buy Volvo than some Chinese company.
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Stéphane Dumas 10:47AM (2/02/2009)
a French article mentionned then BMW study the possibility to do an alliance with Peugeot-Citroen
http://www.leblogauto.com/2009/02/vers-une-alliance-psabmw.html
Dave 9:11AM (2/02/2009)
Renault hasn't even come close to tapping the full benefits of owning a piece of Nissan. It makes me ill to see how much they are pissing away.
If they do this they would be fools...but it is much better than the Chinese owning Volvo.
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Farmboy 10:56AM (2/02/2009)
YES!!! I was mad when Tata took Jag and Land Rover.
nardvark 9:44AM (2/02/2009)
Actually, it seems like a fairly reasonable pairing. Does Renault really have the cash for another major acquisition?
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JZeke 10:08AM (2/02/2009)
Didnt the DeLorean use a Renault-Volvo V6?
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Swede 10:30AM (2/02/2009)
Yes
ojfl 10:15AM (2/02/2009)
Can you imagine an XC60 with the VQ engine? And a C30 AWD with a QR turbo engine? This may work after all.
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British_Rover 10:15AM (2/02/2009)
'Volvo's Ford-based large car lineup '
errrrrr
I am pretty sure it is the other way around. The new Taurus is on the old S80 chassis. The EUCD platform is really more Volvo then Ford and is used by more Volvo vehicles then Ford Vehicles.
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Arthur Dent 10:30AM (2/02/2009)
I just want to add that Renault is the major shareholder in Volvo Trucks, which owns...Renault Trucks and Mack.
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