While Ford remains mum about all talk of potential sales of their other product lines the word in print is that Volvo could soon follow in the footsteps of Austin Martin, Jaguar and Land Rover. CEO Allan Mullaly and Chairman Bill Ford Jr. are attempting to work in utter secrecy as Ford performs a major overhaul of their auto portfolio in order to return to profitability. The sale of their 80′s and 90′s acquisitions is one way by which Ford will be able to generate some income. And that is some needed revenue as their Ford auto sales have failed to keep up with the rising costs of Union salaries, pensions and healthcare costs.
If Ford does sell Volvo they are reported to be asking about $8 billion, but again that is “if”. However, is now really the time to sell Volvo? The Swedish auto maker is one of the few if only manufacturers owned by Ford that is reported to be making a profit. They are also on a significant upswing in their style, design and environmentally friendly construction, which are good selling points in todays market. Ford only knows if Volvo is for certain to be sold off to the highest bidder, but it seems probably that the first person to show up with a check for $8 billion could be driving home in a pretty safe car.
Source[TimesOnline]