Sources inside Ford have told Reuters that the blue oval has had initial exploratory talks with Renault to sell Volvo. The news comes amid previous claims from Ford that it has no intentions of off-loading its Swedish brand.
Fortunately (or unfortunately, depending on which side of the coin you look at) Volvo fans can rest easy, as initial talks have broken down due to price differences.
Sources say the talks are still progressing but at very early stages. Nonetheless, Renault isn't the only manufacturer interested. Ford has also held discussions with China's third-largest automaker, Dongfeng Motor Group, as a potential partner for Volvo.
When contacted, Ford U.S. spokesman Mark Truby declined to discuss the rumours but said: "We announced earlier this year that Volvo is not for sale and that we are focused on improving Volvo's business results."
At the end of May Volvo had sold 2,117 cars in Australia (year to date), which is an improvement of 184 units over the same period last year. A great result for the brand considering the general downward trend for similar European brands.