Ford to sell Volvo for $8 billion
Over the past few months, so many rumours have been circulating around Ford, it has been hard to keep up with everything. Now the Sunday Times claim ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€¦Ã¢â‚¬Å“city sourcesÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€šÃ‚Â say Ford decided 2 weeks ago they will be selling one of its most successful brands. There are no indications yet as to when the sale could go ahead, but this may come somewhat as a surprise since Volvo is considered the flagship Marque of Ford Europe and is thought to be making a profit. No specific figures for the Swedish group have been disclosed, but analysts believe Volvo made around $500 million last year. Ford originally acquired Volvo for $6.95 billion in 1999, and although Ford are likely to receive $8 billion, analysts will be quick to point out that the dollar has weakened. BMW are rumoured to be interested in Volvo, although they would face competition from the likes of Renault and Hyundai.