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Renault inVolvo talks with Ford
Bill Condie1 Jul 2008
Ford has had talks with French carmaker Renault over a possible sale of Volvo, according to insiders.
While initial discussions ended quickly on disagreement over price, the two have spoken again.
Ford, struggling for traction in its home market, has also spoken with China's Dongfeng Motor Group as a potential partner for Volvo.
Dongfeng already has a joint venture with Nissan which makes cars for the Chinese market and is also in discussions over a deal with Volvo's heavy trucks division, which operates independently from Ford.
"We announced earlier this year that Volvo is not for sale and that we are focused on improving Volvo's business results," Ford spokesman Mark Truby said.
The company has already sold British marques Aston Martin, Jaguar and Land Rover, disbanding the Premier Automotive Group, whose only remaining brand is Volvo.
Ford, which has lost more than $15 billion (£7.52 billion) in the past two years, could do with the cash from a sale to rebuild its balance sheet.
