| Renault reported to have bid for Volvo Cars
11th October 2005
Renault is said to have approached Ford Motor Company with an offer to buy Volvo Cars out of Ford’s PAG brand group, in order to compete with German premium brands as it has been unable to do with its own large models. Ford is said to have declined the offer, but Renault, according to a Vehicle News report, has not abandoned the idea of acquiring a premium brand, such as Saab, since alliance partner Nissan’s premium Infiti brand has no profile in the European market.
Vehicle News also suggests that after considering some kind of financial relationship with DaimlerChrysler last spring, Renault-Nissan CEO Carlos Ghosn has more recently been studying the possibility of forming an alliance with either GM or Ford, with an exchange of shares, on condition that the US Administration undertook to relieve either firm from some of its pension obligations.
Other related stories circulating in automotive media last week included the suggestion that Ford CEO and chairman Bill Ford had approached Carlos Ghosn with an offer to take over his CEO role at Ford – an offer Ghosn had declined. Mr Ford said this week only that he regularly talked to senior executives of other OEMs.
Source = autoindustry
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