Ford looks at selling Volvo

Ford may sell its Volvo subsidiary as part of plans to strengthen its balance sheet and boost the case for a $25bn (£17bn) government bail out of the US automotive industry.

The loss-making brand is already laying off around 6000 staff and Ford has had talks with the Swedish government about assistance. Ford, General Motors and Chrysler will present their case for the massive emergency aid package to Congress this week. They say they could run out of cash next year without help