Ford to keep Volvo says brand’s CEO
March 5, 2007 9:23PM by Michael Savio
Ford is committed to its Volvo brand even while it is spinning off another brand in the Premier Automotive Group. “Ford is very supportive when it comes to the development of Volvo cars,” said Volvo CEO Fredrik Arp.
While Ford, which lost $12.7 billion in 2006, is currently only looking to sell its Aston Martin luxury unit, there is much speculation that it will look to sell other brands to raise cash to fund its North American turnaround efforts.
Ford’s North American unit is not expected to return to profitability until 2009. Both Ford’s European division and the PAG are expected to be profitable in 2007, and Volvo is a big part of the PAG’s return to profitability.
## Source: Automotive News ##
Posted in: Ford, Volvo, Business, News
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