$11.2 billion price tag on Volvo

$11.2 billion price tag on Volvo

If you have a lazy $6 billion ($11.2 billion NZ) laying around then Volvo could be yours. Ford first purchased Volvo for $6.4 billion back in 1999. Now, a decade later, unconfirmed reports say the automaker is asking nearly the same amount $6 billion for the Swedish brand. Ford are desperately trying to cut costs in an attempt to woo Washington a government bailout. But Volvo as attractive as it once was, like everyone else the automaker is struggling in today’s market as reported sales in the third-quarter were down 24%. Volvo has cut thousands of jobs, and has even been in recent talks with the Swedish government about financial support.

Potential interest in the sale may come from SAIC Motor Corp, China’s largest automaker and possibly Hyundai, but the fate of Volvo is at this stage uncertain.

If you have a lazy $6 billion ($11.2 billion NZ) laying around then Volvo could be yours. Ford first purchased Volvo for $6.4 billion back in 1999. Now, a decade later, unconfirmed reports say the automaker is asking nearly the same amount $6 billion for the Swedish brand. Ford are desperately trying to cut costs in an attempt to woo Washington a government bailout. But Volvo as attractive as it once was, like everyone else the automaker is struggling in today’s market as reported sales in the third-quarter were down 24%. Volvo has cut thousands of jobs, and has even been in recent talks with the Swedish government about financial support.

Potential interest in the sale may come from SAIC Motor Corp, China’s largest automaker and possibly Hyundai, but the fate of Volvo is at this stage uncertain.

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