Geely is the only legitimate bidder for Volvo

Although there has been more news coverage about the pending sale of Saab to Dutch supercar maker Koenigsegg, the other Swedish automaker, Volvo, is still up for sale, too. Reuters cites a report from Dagens Industri, a Swedish business newspaper, and said that Chinese automaker Geely is the only company to submit a concrete bid for Volvo thus far.

More details on the sale are expected next month, according to the report, and parent company Ford still plans to have everything wrapped up before New Year's.

"It is necessary if the deal is to be completed before the turn of the year, which Ford has set as a target," the newspaper cited a source involved in the sales process as saying.

So a reality of the times is that it just isn't feasible for Ford to keep a resource-sucking, negative-revenue brand hanging around. And now Geely appears to be the only company with the money, the market, and the resources to make Volvo a success. As Bertel Schmitt says, what is good for Ford will be much better for Geely.