Daimler decides not to buy Volvo-report
04-01-2009
German car giant Daimler has decided not to buy Swedish-based, Volvo Cars, from ailing US Ford, according to the weekly Der Spiegel publication. Der Spiegel said BMW had also turned down the chance to take over Volvo, leaving Ford with little hope of finding a buyer, though it mentioned China's Changan as a possibility. According to Der Spiegel, Daimler foresaw problems with harmonising Volvo parts and practices with its own prestige Mercedes cars, which would require substantial investment and small return.
