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Ford denies talks to sell Volvo Ford denies talks to sell Volvo
(about 9 hours later)
Ford Motor has denied that it is in talks about selling off its Swedish carmaking division Volvo.Ford Motor has denied that it is in talks about selling off its Swedish carmaking division Volvo.
Weekend newspapers reported that Ford had decided to sell Volvo in the last two weeks, but the timing of the sale had not yet been decided.Weekend newspapers reported that Ford had decided to sell Volvo in the last two weeks, but the timing of the sale had not yet been decided.
When Ford offloaded Aston Martin for $848m (£416m) in March it left open the possibility that other parts of its Premier Automotive Group may be sold. When Ford offloaded Aston Martin for $848m (£416m) in March it left open the possibility to sell other parts of its Premier Automotive Group (PAG ).
The Premier group also includes Jaguar and Land Rover, as well as Volvo. PAG's Jaguar and Land Rover marques are for sale.
Ford spokesman Tom Hoyt denied that any talks about the sale of Volvo were taking place. But Ford spokesman Tom Hoyt denied that any talks about the sale of Volvo were taking place.
"To my knowledge, we are not in negotiations with anyone about the future of Volvo," he said."To my knowledge, we are not in negotiations with anyone about the future of Volvo," he said.
Ford bought Volvo from its Swedish owners in 1999 for $6.45bn.Ford bought Volvo from its Swedish owners in 1999 for $6.45bn.