Ford Motor Co. has decided to sell Volvo, according to published reports, though the company stressed it’s not now in talks to sell the automaker with its U.S. headquarters in Irvine.
The Sunday Times of London reported that Ford recently decided to seek offers for Volvo, which is part of the automaker’s Premier Automotive Group. Volvo could sell for $8 billion, according to the Times.
Ford acquired Volvo from Sweden’s Volvo AB in 1999 for $6.45 billion.
Ford sought to downplay the speculation, stressing it’s not in talks with anyone over Volvo.
Speculation about Volvo has been running high this year. BMW AG has been rumored as a possible buyer, as have France’s Renault SA and Swedish truck maker Volvo AB, which sold automaker Volvo to Ford eight years ago.
In June, Ford confirmed it is looking at options for Jaguar and Land Rover, two other Premier Automotive brands.
In March, Ford sold a majority stake in Premier Automotive Group’s Aston for $848 million.
Ford has been playing up Volvo as part of its turnaround plan. Four new models are due this year and next and a marketing push in the works for Volvo.
Anne B & #233;lec, chief executive of Irvine-based Volvo Cars of North America LLC, has been seen as a rising star at Ford.
