BMW ‘wants to buy Volvo’

German carmaker BMW wants to buy Gothenburg-based Volvo Cars from Ford, it has been reported.

British car magazine Autocar, quoting sources in the car industry, wrote that BMW had hired a European investment bank to analyse Volvo. The magazine added that BMW had also looked at Italian company Alfa Romeo, currently owned by Fiat.

Car industry analysts told Autocar that BMW wants to broaden its brand portfolio to strengthen future growth. It was also suggested that Volvo would improve BMW’s environmental and safety profiles.

But car industry analysts who spoke to Swedish news agency TT dismissed the idea of Volvo being bought by the German carmaker. Professor Christer Karlsson at Copenhagen Business School dismissed the idea as “silly.”