Tuesday, December 02, 2008
Ford says it may sell Volvo
Ford Motor is exploring the possible sale of Volvo Cars, the company said today.
The U.S. automaker said it would re-evaluate "strategic options" for the Swedish premium brand.
Ford cited the significant decline in the global auto industry and economic downturn, particularly in past three months, as the reason for the move.
"Given the unprecedented external challenges facing Ford and the entire industry, it is prudent for Ford to evaluate options for Volvo," said Ford CEO Alan Mulally in a statement.
The U.S. automaker said it would re-evaluate "strategic options" for the Swedish premium brand.
Ford cited the significant decline in the global auto industry and economic downturn, particularly in past three months, as the reason for the move.
"Given the unprecedented external challenges facing Ford and the entire industry, it is prudent for Ford to evaluate options for Volvo," said Ford CEO Alan Mulally in a statement.
DATED: 02.12.08
FEED: ANE
