The latest company rumoured to be interested in buying Volvo and Land Rover from Ford is Magna. Well, not exactly the two brands, but they’re more interested in the plants that belong to the two brands.
Auto Motor und Sport reports that Magna wants to use the plants of the two marques to build models from other companies, which will help achieve full capacity. All that unused plant capacity lying around is a wasted investment anyway. Magna does contract assembly – it’s subsidiary Magna Steyr manufactures the current generation BMW X3 in Austria but lost the job to assemble the next gen X3.
While Ford has hired Goldman Sachs, Morgan Stanley and HSBC to evaluate the future of it’s Jaguar and Land Rover brands, effectively putting them on the table for possible sale, it hasn’t said anything about possibly selling Volvo. Volvo seems to be doing well recently, reporting that it is heading for a record amount of cars sold globally, despite a slowdown in major markets like Germany and the US. Sales are expected to surpass the previous 456,000 unit record in 2004.