Ford says it may sell European brand Volvo

MICHIGAN: Ford Motor Co said it may sell its Volvo unit, the company���s sole remaining European brand, a day before the automaker is scheduled to present a survival plan to US lawmakers.

The review of options for Volvo probably will take several months, Dearborn, Michigan-based Ford said on Monday in a statement. Shedding the Swedish unit would complete the unwinding a two- decade strategy of diversifying by buying European luxury brands.

Ford, General Motors Corp. and Chrysler are to present plans on Tuesday demonstrating why they should get US financial assistance and that they can be viable businesses.

Volvo was once central to a failed Ford strategy to reap a third of its profits from luxury autos in 2006.
���All of these businesses are being forced to reveal their hand,��� Maryann Keller, an independent auto analyst and consultant in Greenwich, Connecticut, said in an interview.

Ford, the second-largest US automaker, has said it isn���t immediately seeking US aid, while wanting to be able to draw upon such assistance if it runs out of cash. Detroit-based GM, the biggest in the US has said it may run short of funds for its operations by the end of this year.