Ford has not been shy about dumping off divisions not directly related to its core business – the Blue Oval has sold off its Aston Martin , Land Rover and Jaguar divisions over the past several months – with recent reports indicating that that mindset could see the Michigan automaker selling its Volvo brand.
According to Times Online, representatives from Ford and BMW have had preliminary talks about selling the Volvo brand to the German automaker. Despite denials from both companies, similar rumors surfaced a little over a year ago, indicating that something is probably afoot.
The move to sell Volvo would seem to make sense for Ford as the Dearborn-based automaker is scramble to secure enough cash to make it through the current economic downturn – which could last well into 2010. General Motors is reviewing a similar strategy for its Hummer brand, and is even considering a merger with Chrysler to gain access to extra cash.
Ford has been fairly adamant that it has no intentions of selling Volvo, but the economic crisis may be forcing the auto giant’s hand in the matter.
