Changan Auto to widen China Volvo car range

Changan Automobile (Group) Ltd said it wants to widen the range of Volvo cars it makes in China with Ford Motor Co and refused to comment on a newspaper report that it might acquire the Swedish brand.
 
"Our venture has been seeking to make higher-end cars," Zhou Qin, a Chang'an Auto spokesman, said on Tuesday, without naming any specific models. The firm is talking to Ford and Volvo about taking over the luxury car maker, the National Business Daily said earlier this week, citing unidentified people.
 
Chang'an Ford Mazda Automobile Co's sales of Volvo S40s fell 6.2 percent in the first 10 months on rising competition and cooling demand in Asia's largest auto market. The country's car sales fell the most in more than three years last month.
 
Ford on December 1 said it may sell Volvo to cut expenses as car demand wanes and the company lobbies Congress for financial assistance.
From: Bloomberg

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