WDET News
- Ford Re-Examines Ownership Of Volvo
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Dec 1, 2008Automotive & BusinessFord Motor Company is re-examining its ownership of Volvo. Detroit Public Radio’s Jerome Vaughn has more.
SOQ
Ford says it has begun a strategic review of Volvo -- one that could possibly include the sale of the luxury car brand.
Company officials say the review was ordered – in light of the global downturn in the auto industry -- and what Ford calls “severe economic instability worldwide.”
The strategic review will take months to complete. The automakers will continue working together during that time.
Ford began an effort last year to make Volvo more of a stand-alone company after the dissolution of its Premier Automotive Group.
Ford purchased Volvo in 1999.
The Swedish government says it’s recently had talks with Ford about Volvo’s future, as well as with General Motors about Saab.