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Ford eyes sale of Volvo cars

From Nine msn News| May 29 , 2007

Loss-making Ford Motor is planning to sell Swedish car maker Volvo, and German carmaker BMW could be a possible buyer, a Swedish newspaper said on Monday.

The Goteborgs Posten daily reported on its website that a source within Ford said BMW has been studying a possible purchase of Volvo.

The Financial Times also reported last Friday BMW was in informal talks to buy Volvo.

"We cannot comment on speculation, this is a question for our owner," said a spokeswoman for Volvo cars.

Ford bought Volvo in 1999 and it is now part of the US company's Premier Automotive Group, including Jaguar and Land Rover.

Ford does not disclose results for its individual brands, but taken together its luxury line-up lost $US327 million ($A400 million) in 2006.

Merrill Lynch has said Ford could raise over $US9 billion ($A11 billion) by selling the remaining luxury car brands.

Volvo Cars Chief Executive Fredrik Arp told Reuters in March that Ford was committed to keeping the Swedish car maker.

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