DETROIT — Ford Motor (F) said Monday it is considering the possible sale of Volvo, its Sweden-based luxury automaker. "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," company President and CEO Alan Mulally said. "Volvo is a strong global brand with a proud heritage of safety and environmental responsibility and has launched an aggressive plan to right-size its operations and improve its financial results. As we conduct this review, we are committed to making the best decision for both Ford and Volvo going forward." Ford said the review likely would take several months to complete. Volvo is the last remaining brand from Ford's former premium auto group, which included the now-divested Aston Martin, Jaguar and Land Rover brands. Earlier this year, Ford sold its luxury Jaguar and Land Rover brands to India's Tata Motors. Ford also agreed to sell about two-thirds of its 33.4% stake in Japanese automaker Mazda Motor for around 8 million in November.
