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It's no secret that Volvo has had an "FOR SALE" sign posted at the front door for some time now, but the number of bidders actually interested in the company are fast diminishing. The latest company to declare its non-interest is Renault, whose CEO Carlos Ghosn claimed that they were not interested in adding another brand to the stable.
Ghosn was quoted by Automotive News as saying "Renault needs new products, new technologies. It does not need a new brand." He also said that Ford's asking price was too rich for Renault's taste, but no numbers were revealed.
Volvo has been one of the few success stories at Ford over the last decade. The company has revamped its lineup, increased sales, expanded its target audience, and most of all, is profitable now. It's no surprise that Ford is after a high price for the jewel of its Premier Auto Group.
[Source: Automotive News]
