Ford eyeing sale of Volvo brand in bid to raise cash

Dec 01, 2008 | 11:44 AM | Anne Riley

Ford Motor Co. has announced plans to re-evaluate—and most likely sell—Sweden's Volvo Personvagnar AB, its last remaining European brand and a significant drain on the cash-strapped automaker's resources.

"Given the unprecedented external challenges facing Ford and the entire industry, it is prudent for Ford to evaluate options for Volvo," Alan Mulally, president and chief executive officer of the Dearborn, Mich.-based company, said in a statement. "As we conduct this review, we are committed to making the best decision for both Ford and Volvo going forward."....

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