Monday, December 22, 2008

BMW Looking To Buy Volvo

BMW LogoExecutives from BMW and Ford are in the middle of talking about how Ford will sell Volvo to the German automaker. The executives have denied any talks so at this time this is still a rumor.

Marc Hassinger - spokesman for BMW - denied that the two companies were talking and having "talks or preliminary talks" about Volvo. However, it is possible that they are covering the talks up until more details have been discussed and are in place. This isn't the first time the two have gotten together.

Two years ago BMW and Ford were in talks over Ford's Land Rover and Jaguar brands. Ford sold these two brands this year for $2.3 billion to Tata Motors.

Ford has been struggling this year as their sales have plummeted 18.4% through September. U.S. sales for Volvo have also fallen by more than a quarter from the first nine months of 2007. They have cut off almost 6,000 jobs since June.

 

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