After successfully selling its Aston Martin brand to an investor group, Ford is considering the sale of another one of its key properties -- Volvo -- in order to raise capital. The news comes from Sweden's Goteborgs Posten newspaper, which claims BMW is still strongly considering buying Volvo.
News that BMW was mulling an acquisition of Volvo broke early this month, when the U.K.'s Autocar magazine said the German luxury maker was seeking a brand to pair with Mini in order to increase profitability of front-wheel drive architectures. Sources told the magazine BMW considered acquiring Alfa Romeo -- another front-wheel-drive specialist -- before looking at Volvo.
The U.K.'s Financial Times also echoed the rumors late last week, just prior to the Goteborgs Posten report. However, the newspaper believes a sale to Renault-Nissan is a more likely.
Ford raised $1 billion from the sale of Aston Martin, and could conceivably score significantly more for Volvo. It paid $6.5 billion for the company in 1999. Given Volvo integral role at Ford and Mazda in terms of safety and platforms, it's likely Ford would expect a hefty sum for the Swedish firm.