France's Renault SA and Swedish truck maker Volvo AB could be interested in buying automaker Volvo, which has its U.S. headquarters in Irvine.
Officials from the companies declined to comment on the speculation, which first was reported in Swedish newspaper Dagens Industri and picked up by Reuters.
Analysts were skeptical, saying the deal wouldn't make sense for truck maker Volvo.
The truck maker, 20% owned by Renault, sold automaker Volvo to Ford Motor Co. a decade ago.
Earlier this month, Ford said it is looking at options for its Jaguar and Land Rover brands amid speculation the British brands are up for sale.
Jaguar, Ford and Volvo are part of Ford's Premier Automotive Group, which has U.S. headquarters in Irvine.
Observers speculate Ford may have to include Volvo in a sale of Jaguar and Land Rover because the Swedish brand is the strongest part of Premier Automotive Group.
Volvo was the subject of sale speculation to BMW AG in late May, something Ford dismissed.
In March, Ford sold a majority stake in Premier Automotive Group's Aston for $848 million.