Volvo Trucks Not Interested In Volvo Cars

Filed in archive on September 19, 2007

By Gunnar Heinrich

Volvo AB, the Swedish commercial truck manufacturer that originally sold Volvo Cars to Ford for $6 Billion in 1999, says that it doesn't want the car unit back.

News reports suggest that Ford executives may have approached the original owner to see if they would be interested in owning the carmaker again.

But whatever the case, the former parent company said today that it wants nothing to do with its former car division.

"We are of course very concerned and interested in what happens with Volvo cars, but not such that we would be an investor there,'' Volvo AB CEO Leif Johansson told reporters.

Inside FoMoCo, there appears to be some discussion about whether the successful subdivision should be sold at all and Detroit has not officially announced its intentions.

A statement of intention about the future of Volvo Cars should come by earlier next year.

[Source: Bloomberg]