Ford may sell Volvo unit

UPDATE Ford Motor is in talks to sell its Volvo car business to its China partner Changan Automobile Group, the National Business Daily reported on Tuesday, citing an unnamed source at the Chinese company. Changan president Xu Liuping held discussions with Ford and Volvo during last month's auto show in the Chinese city of Guangzhou, the newspaper said. The report did not provide details of the talks, but quoted an unidentified Changan executive as saying there was a chance for a deal. Changan is one of China's six biggest auto groups.

10/27/08 Ford Motor Co. may sell Swedish carmaker Volvo to BMW in order to raise cash, according to a report on Monday. Preliminary discussions have taken place between the two auto makers, according to the U.K.'s The Sunday Times, citing senior industry sources. Both firms denied talks, the newspaper said.