Ford, GM Still Looking for Volvo, Saab Buyers

Despite the fact that Volvo and Saab sold millions of vehicles all around the world and were often regarded as two top players in the automotive industry, no one is interested in buying the two companies, parent firms Ford and General Motors said at the 2009 NAIAS. Rumors claiming that both Volvo and Saab were “transfer listed” by their parent companies spread on the web since last October, with the owners denying every single piece of speculation. One month later, both Ford and GM said they were considering their options regarding the two Swedish brands, but no buyer was found at that time.

And the current situation is pretty much the same with the one in December as officials of Ford and GM say no one is interested in buying Volvo and Saab and deny rumors claiming that a deal could be reached by March.

According to Just-auto.com, Ford CEO Alan Mulally discussed a possible transaction with a single buyer but negotiations have been put on hold. General Motors chief Rick Wagoner says he's still waiting for someone to show interest in Saab and explains that it's impossible to sell the Swedish automaker by the end of March.

On the other hand, the Swedish government rush the American parent companies to help the local automakers get back in business and reorganize their product lines. Last month, the Swedish authorities agreed to provide $3.1 billion in credit guarantees to struggling Volvo and Saab but said the government has absolutely no interest in purchasing a stake in any of the two firms.

"I made it clear to General Motors and Ford that under no circumstances will there be a way that the Swedish government, the Swedish state, will become an owner of either Volvo or Saab," Joran Hagglund, state secretary of the Swedish industry ministry, told Reuters. "They have to take the full responsibility for the actions that have to be taken to secure good futures for the brands of Saab and Volvo.”