Ford is not going to sell off its Volvo brand, Mark Fields, Ford’s president of the Americas, has told the Detroit Free Press. He said the automaker is “pretty integrated” into Ford, suggesting a sale of the brand would neither be wise nor easy.
Previous reports indicate BMW considered making a bid for Volvo earlier this year, but decided against it. Renault has been said to have been interested in Volvo, as has Volvo Trucks. However, it appears Ford is not interested in offers.
Land Rover , Jaguar for sale
As for Land Rover and Jaguar, Ford has not denied plans to sell the companies. As previously reported, the U.S. automaker has hired investment banks Goldman Sachs and Morgan Stanley to pursue the sale of the two companies.
The latest rumors indicate Cerberus Capital Management — the company that recently agreed to buy the Chrysler Group from Daimler-Benz — is among the companies interested in buying Jaguar and Land Rover.
Ford sold its Aston Martin brand in May for $848 million. With Land Rover and Jaguar gone, Ford’s PAG (Premier Automotive Group) will essentially be dismantled.
Room to grow
With Jaguar out of the picture, Volvo will be Ford’s sole European premium brand. As Ford’s most premium automaker, Volvo will be free to compete fully with Audi , BMW, and Mercedes-Benz , assuming Ford choses to use it this way.
