Sweden: Ford denies claims of plan to sell Volvo to BMW
Tuesday, May 29, 2007, AutomotiveWorld.com
Ford has denied a report that it is planning to sell Volvo Cars to BMW. After Swedish newspaper Goteborgs Posten published the claims on 29 May, Ford initially refused to comment but later in the day issued a statement denying the claims.
The UK's Financial Times has also recently claimed that "BMW is in informal talks to buy Volvo."
A spokeswoman for Volvo Cars said, "We cannot comment on speculation, this is a question for our owner."
In March, Volvo Cars' chief executive Fredrik Arp stated that Ford was committed to keeping the company, according to Reuters.
Ford, which acquired Volvo in 1999, posted a loss of US$372m for its PAG luxury brand group in 2006. The OEM does not disclose results for its individual brands.
Published on Tuesday, May 29, 2007
Free e-newsletters
Our free E-Newsletter service is an excellent way of staying up to date with news and features from around the global auto industry.
