Ford In Talks To Sell Volvo To Geely, Chinese Car Company

bloomberg.com:

Ford Motor Co., seeking to raise cash to avoid a federal bailout, is in preliminary talks to sell its Volvo Car unit to Geely Automobile Holdings Ltd., according to three people familiar with the discussions.

Ford will likely get less than the $6.4 billion it paid for Volvo in 1999, said one of the people, who declined to be identified because the talks are ongoing. Ford has also approached Chery Automobile Co. and Chongqing Changan Automobile Co., the people said.

Read the whole story: bloomberg.com

Comments

[MuchMadness]

Volvo should be owned by Swedes. Swedish workers should make cars for Swedes.

[SoCalNick]

LOL I had one when they were from SWEDEN, they were great and lasted FOREVER, they dropped when they went to the U.S. but I tell you . A SWEDISH / CHINESE Car LOL PUUULEEEZE.

[Skyhawk]

At least Ford is showing some effort as opposed to GM and Chrysler. The extra capital will be needed to develop their hybrids.

[vegasobserver]

Ford is foolish. They are creating a Frankenstein that will devour them... between Swedish engineering and Chinese cheap labor, Volvo will destroy Ford.

[sueinmn]

Thats all we need, the auto market here for the Chinese! I hope people refuse to purchase any chinese owned cars!

BUY AMERICAN.

[ccpostman]

Why do the European made Fords look so much better.

American Fords all have big ugly grills and less styling.

http://www.ford.co.uk/Cars
http://www.fordeurope.net/
http://www.ford.de/

[sueinmn]

POSSIBLY OUR TASTE S DIFFERENT THAN YOURS.

[Skyhawk]

No. Those grills look like aluminum siding., and yes I'm American. It's an unappealing design element.

[SammyD]

20 years from now Americans will be talking about the good ole days when cars were manufactured in America. And Americans will still be paying for the bailout the car companies received in 2009.

[frantaylor]

Sorry, the "good old days" of my Taurus were not so good, things are much better since I ditched it and bought a used Saab. More reliable, better mileage, more room, much faster, handles better, much safer.

[michmudder]

Be glad you got a good one. The 2008 JD Power Dependability Study ranks Saab at 33 of 37 brands. (Ford was much higher.) http://www.jdpower.com/autos/ratings/dependability-ratings-by-brand/sortcolumn-1/ascending/page-#page-anchor

[sueinmn]

cant agree, my Chevy has been most reliable.

[HazerX]

I currently own a 2007 Volvo. It is my 2nd . . .I love my Volvo. . .I truly love it.

If they sell to the Chinese, I will sell it and never buy another one as long as I live. Volvo's quality will go in the tank along with everything else that brand represents.

Sad times, folks.

[frantaylor]

You're going to be living in a mud shack and eating bugs and roots if you maintain that attitude. China is holding all the money, if they don't spend our dollars, they will become worthless and our economy will do even worse.

[sueinmn]

Yes and why is China holding all the money? Because our Government and what use to be american business sold us out!

Ill live in a box before I buy more chinese crap. Im through and will go with out till we see manufacturing here again. Its easy not to spend on wasteful crap!

You continue with your atitude and yea we are doomed to live in a mud shack eating roots, cockroaches and more!

[HazerX]

For the record, I stated I wouldn't buy another Volvo if its sold to the Chinese.

I will still buy a car, it just wont be a Volvo, and the Chinese wont see that money (at least not through the sale of a Volvo to me lol).

Please read before proving that you didnt.

[Hank10303]

Volvo is one of Fords few profitable lines. Instead of selling it they should cut some of its other lines - why does Ford need 23 different product lines, and that's just under the ford name. Didn't anyone take economics 101 - you don't saturate the market and then expect people to pay top dollar. If your cars are all over the place to much and to many - people will look for the more unusual instead of the common.

[drymartini1]

in this market no one wants your losing product lines. you can only sell what people want. of course that could hit your revenue in the future, but thats the least of ford's worries now.

highest priority is to do anything (that means selling profitable lines) so that they dont have to beg for govt. bailout in march. anything to keep the govt. out. got it?

[ccpostman]

A slow death for Ford.

Volvo gets thrown under the bus to give a few more years to Ford. Won't buy a Volvo if this happens!

[MattInVA]

Actually, Volvo is losing money at a rate that makes Ford blush. If Volvo were actually making money, Ford wouldn't have such a hard time selling it.

For the record, Volvo lost 1.46 billion in 2008. That's an amazing amount for such a small company.

[drymartini1]

Ford needs to do whatever possible (that includes selling a few product lines and brands, closing a few more plants and cutting costs aggresively) to PREVENT GOVT. CONTROL of the company. thats good for its shareholders (if there are any left ha ha !!) and its CEO.

who wants govt. to tell you how much you can make. Better sell some product lines, shore up balance sheet and hunker down.

Govt. have finally given the right incentive to not ask for a bailout. :)

[Ozarks]

Ford has the reverse Midas touch. Everything they touch turns into a Ford. No wonder Volvo & Jaguar went in the tank.

[FrTown]

Ford got too greedy rounding up big names like Volvo, Jag, etc.
But they did not benefit from the Swedish or British know-how, otherwise we would have seen cars as good if not better as those previously imported models.

[michmudder]

see "Ford, Volvo lead annual list of safest vehicles". November 2008.
http://www.msnbc.msn.com/id/27896106/

[FrTown]

Expecting a $5000 volvos in near future.

[CharlesJ]

I was considering buying a volvo, however if ford sells it to the chinese, I will scrap that plan.

[FrTown]

What's your logic?
Volvo isn't American to begin with.

[One more Thing]

This is a scare tactic, probably Cheney's idea.

I can live without Volvo.

I can also live without our government bailing out another auto giant.

[frantaylor]

huh?