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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Report: China automaker mulls buying Ford's Volvo AP - 2 hours 23 minutes ago BEIJING - A Chinese partner of Ford Motor Co. is talking to the U.S. automaker about the possible purchase of its Volvo unit, a Chinese newspaper reported Tuesday. Changan Auto Co.'s president, Xu Liuping, talked with Ford executives about a possible sale at an auto show last month in China, the National Business Daily said, citing an unnamed source at Changan. It gave no other details. A spokeswoman for Ford Motor (China) Ltd. said Ford was evaluating possible options for Volvo Car Corp. including a possible sale but declined to comment on the Chinese report. "It will take some months to assess all of our available options," spokeswoman Lynn Ouyang said in a written statement. Employees who answered the phone at Changan referred calls to a spokesman who they said was unavailable. Ford is trying to raise money to see the company through a severe slump in the U.S. auto industry. Ford and rivals General Motors Corp. and Chrysler LLC are seeking government aid. Ford bought Volvo, based in Goteborg, Sweden, in 1999. Changan and Ford have been joint venture partners in China since 2001. China's small but ambitious automakers have acquired other foreign brands in an effort to expand abroad. Nanjing Automobile Group bought Britain's MG-Rover brand in 2006 after its owners went bankrupt. Shanghai Automotive Industries Corp. owns 51 percent of South Korea's Ssangyong Motor Co. Car sales in China, the world's second-largest auto market, have weakened but not as severely as in the United States. China's auto sales fell 10.3 percent in November from a year earlier, state media reported Monday, citing industry data. It was the third month out of four that car sales have contracted. Sales rose in October. Ford sold its Jaguar and Land Rover units to India's Tata Motors Ltd. in March for $1.7 billion. ___ Associated Press researcher Bonnie Cao in Beijing contributed to this story. ___ On the Net: Ford Motor Co.: http://www.ford.com Changan Auto Co.: http://www.globalchana.com Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy AutoZone posts lower fiscal 1st-quarter profitAP - 21 minutes ago Brazil economy grows 6.8 pct in 3Q before slumpAP - 1 hour 24 minutes ago Report: China automaker mulls buying Ford's VolvoAP - 2 hours 23 minutes ago NKorea nuke talks focus on verifying past activityAP - 2 hours 56 minutes ago Related Articles: Business Sony to cut 16,000 jobs, slash $1.1 bln in costsReuters - 19 minutes ago Malaysia's TMI may sell stake to repay debtReuters - 21 minutes ago AutoZone posts lower fiscal 1st-quarter profitAP - 21 minutes ago India's Bajaj Auto, Honda Siel cut vehicle pricesReuters - 22 minutes ago German economic expectations improve slightlyAP - 23 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Financial crisis tipped to cut cost of air travel Muslim pilgrims stone Satan at the hajj Stocks take flight on prospects for anti-recession moves Oil price falls below $40 Dow Chemical to cut 5,000 jobs, close 20 facilities View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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