Ford seeking $6 billion for Volvo

According to a report by Bloomberg, FoMoCo is seeking up to $6 billion to sell Volvo and is using JPMorgan Chase & Co as its adviser. The report states that Ford is counting on the strength of the Swedish brand to draw interest from bidders.

Volvo is now the last remaining luxury brand besides Lincoln (if you consider that to be luxury). Former luxury brands included Aston Martin, Jaguar and Land Rover.

Ford announced on Monday that it is reviewing options for Volvo due to the decline in sales particularly in the past three months and a severe global economic instability.