Ford continues to assess its units
Auto analyst David Cole said if Ford's cash flow problems were desperate enough, selling Volvo might make some sense.
By PTI |
DEARBORN (US): Ford Motor Co has said it continued to weigh options in response to reports that the automaker, working to return its North American operations to profitability, was preparing to sell its moneymaking Volvo luxury brand.
The Sunday Times, citing unnamed sources in London, said the decision to sell Volvo, which is part of Ford's Premier Automotive Group, was made in the past two weeks, but that the timing of the sale had yet to be decided.
The New York Times, in a story posted yesterday on its Web site, said Ford would entertain offers for Volvo following a board meeting last week. The newspaper cited people whom it didn't name who it said had knowledge of the situation.
Ford spokesman Tom Hoyt said in an interview with The Associated Press yesterday that the company was not commenting on speculation about Volvo's future. He confirmed that Ford's board met last week but said he knew of no decision.
"We've said all along that we're viewing our options and assessing our business," Hoyt said.
When Ford last August announced it was exploring the possible sale of its Aston Martin luxury sports car brand, the automaker left open the possibility that other Premier Automotive Group brands, including Volvo, could be sold.
Auto analyst David Cole said if Ford's cash flow problems were desperate enough, selling Volvo might make some sense.
"You could get cash out of it, which is very important right now," said Cole, chairman of the Center for Automotive Research in Ann Arbor.
The Sunday Times, citing unnamed sources in London, said the decision to sell Volvo, which is part of Ford's Premier Automotive Group, was made in the past two weeks, but that the timing of the sale had yet to be decided.
The New York Times, in a story posted yesterday on its Web site, said Ford would entertain offers for Volvo following a board meeting last week. The newspaper cited people whom it didn't name who it said had knowledge of the situation.
Ford spokesman Tom Hoyt said in an interview with The Associated Press yesterday that the company was not commenting on speculation about Volvo's future. He confirmed that Ford's board met last week but said he knew of no decision.
"We've said all along that we're viewing our options and assessing our business," Hoyt said.
When Ford last August announced it was exploring the possible sale of its Aston Martin luxury sports car brand, the automaker left open the possibility that other Premier Automotive Group brands, including Volvo, could be sold.
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Auto analyst David Cole said if Ford's cash flow problems were desperate enough, selling Volvo might make some sense.
"You could get cash out of it, which is very important right now," said Cole, chairman of the Center for Automotive Research in Ann Arbor.
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