Despite all of the difficulty Ford has had trying to sell off its two remaining British brands, Land Rover and Jaguar , the carmaker is now apparently saying that it will have a tentative deal on the two brands by the end of September. Ford is also rumored to have internal plans to have Volvo sold by the end of 2007.
The news comes from The New York Times, who reported Ford’s sale plans on its website. The newspaper says that Ford’s advisers have been collecting financial information on Land Rover and Jaguar for a potential bidder. While there are no firm reports on who the buyer could be, the leading rumors have said that Tata and Mahindra & Mahindra, two Indian firms, are the only interested carmakers at the moment. Several buyout firms similar to Cerberus have also shown interest.
This is the first reputable rumor that Volvo will be up for sale. It’s expected that Ford would look to retain some stake in Volvo given that the automaker has spread Volvo platforms and technology across its range. Despite the fact that Ford hasn’t owned Volvo as long as it has Jaguar , the two companies are intertwined under the Ford umbrella.
