Ford says Volvo not for sale

Ford Motor Co. denied reports it was putting its Volvo unit up for sale and said it was not negotiating with anyone to sell the Swedish automaker.

London’s Sunday Times and the New York Times, citing unnamed sources, both said Sunday that Ford had decided to entertain offers for Volvo.

But Ford spokesman Tom Hoyt denied that the automaker was in any such talks. “To my knowledge, we are not in negotiations with anyone about the future of Volvo,” Hoyt said.

When Dearborn, Mich.-based Ford last August announced it was exploring the possible sale of its Aston Martin luxury sports car brand, the automaker left open the possibility that other Premier Automotive Group brands, including Volvo, could be sold.

Auto analyst David Cole said if Ford’s cash flow problems were desperate enough, selling Volvo might make some sense. Ford acquired Volvo from Sweden’s Volvo AB in 1999 for $6.45 billion.