Group, successfully spun off ball bearing company SKF in 1927, no longer has much to do with the Volvo brand of cars. While it does build large commercial vehicles
, the automotive unit was sold to Ford
all the way back in 1999, and the only real ties the two corporations share is joint-ownership of the Volvo logo and trademark. Unfortunately, things haven't really been all that rosy for the Swedish brand since it was purchased by the Blue Oval. Despite its lack of involvement, Volvo Group doesn't like to see its old auto division in such sorry shape and is reportedly willing to help... up to a point. The Swedish company will not purchase Volvo Cars back from Ford, but would consider funding various joint projects and becoming part of a consortium of owners.
The Volvo Group also opposes calls for the Swedish government's intervention. Some have suggested that both Volvo and Saab
should be operated as state-owned brands. Says Volvo chairman of the board Finn Johnsson, "The state knows nothing about the car industry..." If Ford isn't able to keep it up and the Swedish gov't minds its own business, where does that leave Volvo? Johnsson suggests that Renault
might be a good fit for potential owner of the brand. Ghosn, are you listening?
[Source: AF via Google