Ford wants $6 billion for Volvo
#1
Ford wants $6 billion for Volvo
Ford bought Volvo for $6.4 billion back in 1999. Now, a decade later, unconfirmed reports say the automaker is asking nearly the same amount -- $6 billion -- for the Swedish brand.
Ford may sell Volvo to demonstrate active steps to cut costs (a critical move as Mulally is in Washington asking Congress for financial assistance as you read this). Although it's a buyer's market, Volvo isn't exactly the hottest catch. Like everyone else, the automaker is struggling in today's market as reported sales in the third-quarter were down 24%. Volvo has cut thousands of jobs, and has even been in recent talks with the Swedish government about financial support. Potential buyers of Volvo include SAIC Motor Corp., China's largest automaker, and Hyundai Motor Co., from South Korea. Another option would be for the Swedish government to become the temporary owner until a suitable industrial buyer is found, but we think that has the same chance as the Detroit 3 being federalized.
Ford may sell Volvo to demonstrate active steps to cut costs (a critical move as Mulally is in Washington asking Congress for financial assistance as you read this). Although it's a buyer's market, Volvo isn't exactly the hottest catch. Like everyone else, the automaker is struggling in today's market as reported sales in the third-quarter were down 24%. Volvo has cut thousands of jobs, and has even been in recent talks with the Swedish government about financial support. Potential buyers of Volvo include SAIC Motor Corp., China's largest automaker, and Hyundai Motor Co., from South Korea. Another option would be for the Swedish government to become the temporary owner until a suitable industrial buyer is found, but we think that has the same chance as the Detroit 3 being federalized.
ffpower says: I'll take Volvo off Ford's hand if the government loans me 6 billion dollars...
#2
There is no way that I am paying a penny more than $5.9 billion!
I love Volvo though. I hope that they press on no matter who owns them.
I love Volvo though. I hope that they press on no matter who owns them.
#3
Too much offering for Volvo automaker failed again to next owner! $6 Billion It doesn't worth $6 billion asking offering. Land Rover & Jaguar too.
#4
I got only $28k anyone else want to buy in with me LMAO
#5
If what I saw on the road today is the future of Volvo $6 Billion is grossly to much. What I saw was a very small two door car with a slant roof line from front window back no trunk at all and no hatch either. May very well have been a two seater as the rear would have no headroom at all. It was also very narrow in width probably two of these fit side by side in a lane. It had large letters in chrome on the rear V O L V O.
#6
6 billion!!! Thats funny as hell. 6 billion for a company that doesnt sell that well in the US. Its known for its safety. Nothing else
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