By most estimates, the No.2 U.S. car corporation is burning through more than $1 billion a month. As total American vehicle sales drop as low as ten million this year, Ford’s financial situation will get worse, even if it gets concessions from the UAW and suppliers.
To help raise capital, Ford has been shopping Volvo. There has been some hope that Sweden, where Volvo was founded, might buy the brand. So far, there is no indication that will happen.
According to a newspaper, as it has become clear that Volvo will be sold soon, “Companies expected to express interest include Chinese auto makers Geely Holding Group, SAIC Motor Corp. and Chongqing Changan Automobile Co.”
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