Ford was the only of the Big Three not to take a federal bailout loan, but that doesnít mean the Michigan automaker isnít looking for a little extra cash. In a bid to raise capital, Ford could begin shopping its Volvo brand as early as next month.
According to The Detroit News, Ford will be sending out sales documents to potential buyers by the middle of next month. Although no prospective buyers have been specifically named by the Blue Oval, it is widely believed that possible suitors will include several Chinese automakers, including Chery, SAIC and Guangzhou Automobile Group.
Ford purchased Volvo back in 1999 for $6.4 billion. Although Ford has announced an official price for its Swedish Volvo brand, several reports have indicated the Dearborn-based automaker will be seeking at least $6 billion. No time frame for sale has been set by Ford.