There has been much speculation that Ford would offer Volvo for sale to raise much-needed funds, and the Detroit-based company has now confirmed it is ‘re-evaluating strategic options', including a possible sale of the premium automaker.
Ford said the review is likely to take several months to complete. In the meantime it will restructure Volvo to allow the business to operate on a more stand-alone basis.
‘Given the unprecedented external challenges facing Ford and the entire industry, it is prudent for Ford to evaluate options for Volvo as we implement our ONE Ford plan, said Ford CEO Alan Mulally. ‘As we conduct this review, we are committed to making the best decision for both Ford and Volvo going forward.'
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