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According to rumors published on a UK site called
Auto Industry, Renault has offered to
purchase Volvo from Ford’s Premium Automotive Group. Renault is shopping around for a premium brand with an established
name to compete with German models in the European market. Ford, of course, declined the offer, as Volvo is a valued
member of its PAG group. It is, however, good news for Ford that there’s a willing buyer out there just in case it
needs to make some quick money like GM did when it sold its stake in Subaru to Toyota. Speaking of GM, that company may
soon get a call from France as Saab is probably the next candidate on Renault’s list.
[HT goes to Paul Tan]