Ford has admitted that it’s seriously considering selling Volvo as part of a drastic strategy to save cash.
“It is prudent for Ford to evaluate options for Volvo,” said Ford President Alan Mulally.
“Volvo has launched an aggressive plan to right-size its operations and improve its financial results. As we conduct this review, we are committed to making the best decision for both Ford and Volvo going forward.”
Until now, Ford has always insisted that Volvo is an integral part of its future plans.
The Detroit giant says the review will take several months, but adds that it plans to put in measures to allow Volvo to operate on a ‘more standalone basis’.
Blue Oval bosses will hope that talking seriously about selling the premium Swedish sub-brand will win them favour with the US Senate and potentially release billion-dollar government loans to bolster Ford’s global operations and secure its future.