Ford in further talks with Shanghai Auto to sell Volvo
 

<p>Filed under: <a href="http://www.autoblog.com/category/china/" rel="tag">China</a>, <a href="http://www.autoblog.com/category/volvo/" rel="tag">Volvo</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a></p><a href="http://www.mailonsunday.co.uk/money/article-1092479/Ford-sell-Volvo-brand-Shanghai.html"><img vspace="4" hspace="4" border="0" align="right" alt="" src="http://www.blogcdn.com/www.autoblog.com/media/2008/12/volvo_chinese_sale_250op. jpg" /></a>The UK's <em>Sunday Mail</em> is reporting that Ford has returned to Shanghai Automotive Industry Corp. (SAIC) to make another pitch to sell Volvo. As we told you back in June, <a href="http://www.autoblog.com/2008/06/25/report-ford-looking-to-offload-volvo-on-chinese-cutting-2-000/">SAIC</a> is one of the leading contenders to snap up Volvo. Although Ford had long maintained the Swedish automaker was not for sale, it recently admitted it was entertaining offers for the firm. Having paid $6.4 billion for Volvo back in 1999, it is believed that <a href="http:// http://www.autoblog.com/2008/12/04/ford-wants-6-billion-for-volvo/">Ford is now seeking around $6 billion for the company</a>. That's a lot of yaun.<br /><br />Like the rest of the industry, Volvo is struggling in today's market with third-quarter sales down 24 percent. It has cut thousands of jobs and has even sought assistance from the Swedish government. Besides SAIC, Hyundai Motor Co. is still believed to be in the hunt for Volvo, as well as the Swedish government itself, although that seems unlikely.<br /><br />If SAIC does end up in Chinese hands, it won't be their first experience building Volvos. The <a href="http://www.autoblog.com/2008/11/18/volvo-unveils-long-wheelbase-s80l-for-chinese-market/2">Chinese-market-only, long-wheelbase S80L</a> is already being built at the CFMA Chongqing plant in China, but that is a unique partnership for now and it is unclear how the sale of Volvo to SAIC would affect that arrangement. <br /><br />[Source: <a href="http://www.mailonsunday.co.uk/money/article-1092479/Ford-sell-Volvo-brand-Shanghai.html">The Sunday Mail</a>]<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2008/12/08/ford-in-further-talks-with-shanghai-auto-to-sell-volvo/">Ford in further talks with Shanghai Auto to sell Volvo</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Mon, 08 Dec 2008 09:59:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.mailonsunday.co.uk/money/article-1092479/Ford-sell-Volvo-brand-Shanghai.html>Read</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2008/12/08/ford-in-further-talks-with-shanghai-auto-to-sell-volvo/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/1394034/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2008/12/08/ford-in-further-talks-with-shanghai-auto-to-sell-volvo/#comments" title="View reader comments on this entry">Comments</a>

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