Back in ‘99 Ford purchased Volvo for $6.4 billion. Today, ten years later, unofficial reports say the carmaker is selling the Swedish brand at $6 billion, almost the same amount.The move to sell Volvo may show the people in Washington that Ford is serious about cutting its costs. Even though Volvo is now up for grabs, it isn’t really that hot a catch considering that there is a falling of 24% in its third-quarter sales, and it has made redundant thousands of positions, and has already been in dialogue with the government of Sweden for financial aid.

Among the possible buyers of Volvo, two of the most likely are SAIC Motor Corp., China’s biggest carmaker, and South Korean manufacturer Hyundai Motor Co. Another alternative solution to the ongoing crisis would be to make the Swedish government as Volvo’s temporary owner pending an appropriate industrial buyer is determined, however, this move has as much chance as the federalization of the Detroit Big Three.

[source autoblog]

Tags: 6 billion volvo, volvo 6 billion, volvo news, volvo sale 6 billion news

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