Ford weighs selling Volvo amid industry downturn
By Associated Press
Monday, December 1, 2008 -
Monday, December 1, 2008 -
DETROIT - Ford Motor Co. is considering selling Volvo Car Corp. as the U.S. automaker seeks to raise cash and survive tight credit markets and a global automotive sales crisis.
Goteborg, Sweden-based Volvo Cars, which Ford bought in 1999, has been struggling with declining demand and a strong euro which made its products more expensive. Volvo sales through October are down more than 28 percent compared with the same period in 2007, according to Autodata Corp.
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