Ailing US car maker Ford said today it would consider selling its Sweden-based subsidiary Volvo as part of a strategic realignment in the face of a car industry slump.
Ford said in a statement that the decision to review strategic options for Volvo came 'in response to the significant decline in the global auto industry particularly in the past three months and the severe economic instability worldwide.'
Ford said the review probably would take several months to complete.
'Given the unprecedented external challenges facing Ford and the entire industry, it is prudent for Ford to evaluate options for Volvo as we implement our ONE Ford plan,' Ford president and chief executive Alan Mulally said.
