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Ford talking to Volvo bidders

2009-01-12 08:12

Detroit - Ford Motor Company has had talks with potential bidders for its luxury Volvo brand, Ford chief executive Alan Mulally said on Sunday.

Mulally, who was speaking to reporters at the Detroit auto show, declined to name the parties that had been in contact with Ford about a sale of Volvo.

"We are not revealing the people we are talking to, but over time we will," Mulally said.

Ford said last month that it was reviewing its options for Volvo. Mulally said that review had included contact with potential bidders.

"When we do a strategic review that is absolutely part of it," Mulally said.

Volvo is the last remaining brand from Ford's former premium auto group that had included the now-divested Aston Martin, Jaguar and Land Rover brands.

Last year, Ford sold its luxury Jaguar and Land Rover brands to India's Tata Motors Ltd .

Ford also sold about two-thirds of its stake in Japanese automaker Mazda Motor Corp for around $538 million in November.

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