Ford may sell Volvo car unit to Germany's BMW

Our Corporate Bureau
29 May 2007

Mumbai: Loss-making US auto major Ford Motor Co. is planning to sell Volvo, its acquisition in Sweden, to German carmaker BMW, Goteborgs Posten, a Swedish newspaper reported on its website.

The report cited a source within Ford who said that BMW is studying a possible purchase of Volvo.

There have been market reports in the past suggesting that BMW was in informal talks to buy Volvo from Ford.

Ford had acquired Volvo in 1999. Volvo is now part of the Ford's Premier Automotive Group.

The Financial Times had also reported last week that BMW was in informal talks to buy Volvo.