Is Ford's Premier Auto Group Ready to Sell-Off Volvo?
Is Volvo even for sale? According to current owner Ford Motor it's not, but that hasn't hindered Volvo and Renault execs from discussing options, or so the Parisian daily newspaper La Tribune stated.
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| Officially Volvo isn't for sale, but that isn't stopping French automaker Renault from testing the waters. (Photo: Renault) |
The two automakers were joined at the hip prior to 1993, with 20 percent of each company's car production company's stock and 45 percent of each other's truck-making subsidiary being co-owned. It is an alliance Renault CEO Louis Schweitzer has stated he would like to resume, despite it ending in "cultural friction," with Volvo not impressed with the value Renault brought to the equation.
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| Even the head of Renault admits that it's doubtful Ford would sell the profitable marque. (Photo: Ford Motors) |
A story, featured by Automotive News, reported the leader of the French automaker would seriously consider buying the Swedish company "if the price was right." In the same breath he seemed doubtful the world's number two carmaker would be interested in selling, due to Volvo being a "great brand" and "a profitable one."
The French newspaper wrote that Volvo management is frustrated with PAG's inability to develop autonomy with the Swedish automaker and its other brands. Still, when asked about a possible Renault-Volvo takeover PAG CEO Mark Fields told Automotive News Europe, "I did not come over to PAG to preside over an auction."