Loss-making US auto giant Ford was reported to be mulling a sale of its subsidiary Volvo Cars, according to newspaper reports Monday.
The Financial Times and the Goteborgs-Posten newspaper, the latter based in the west coast city Gothenburg where Volvo has its headquarters, both cited unnamed sources in their reports. Goteborgs-Posten mentioned possible interest from BMW of Germany, which has been floated in the past. Ford acquired Volvo Cars in 1999 for $6.45 billion. Commenting on the reports, Volvo Cars spokeswoman Maria Bohlin told Deutsche Presse-Agentur dpa that „we regard this as media speculation,” adding any possible sale was a matter to be decided by Volvo Cars' owner, Ford. The Volvo group makes trucks, buses and vehicles for road construction and other purposes. (monstersandcritics.com)