Magna interested in Volvo and Land Rover
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.
July 4, 2007 @ 3:31 pm
CCool
It’s better than seeing few manufacturers controling the whole market
July 4, 2007 @ 3:38 pm
but they are only after the plants……which doesn’t really mean the volvo badge is transferred to them.
July 4, 2007 @ 4:03 pm
Is the land rover and volvo sale caused by the new engine ford has developed?
July 4, 2007 @ 5:11 pm
Magna? What company aa?
Is it auto related co. or what?
Heck, no idea about it! Somebody please explain.
July 4, 2007 @ 8:13 pm
Hope that volvo will find a new home…
July 4, 2007 @ 8:15 pm
not sure this is the right move for Ford. Selling jag, is ok, but Land Rover, I am not so sure. Volvo even more not sure…
July 4, 2007 @ 10:57 pm
wats magna ?
July 5, 2007 @ 1:41 am
^^^ Magna is the largest auto parts maker in Canada and the third largest in the world.
http://www.magna.com/magna/en/products/content/default.aspx
They also do contracted full assembling work for automakers like BMW, Saab,and Mercedes/Chrysler.
July 5, 2007 @ 10:39 am
Kinda sad to hear Volvo are on menu again…
IMHO, Ford shouldn’t sell Volvo!