Ford confirms plan to sell Volvo

DETROIT, July 26 (UPI) -- Ford has confirmed it may sell Volvo, its Swedish subsidiary, a move some say could come this year.

The U.S. auto maker, which reported its first profit in two years on Thursday, said it was conducting a strategic review of the Gothenburg, Sweden-based Volvo, the Local reported.

Rumors circulated for months that Ford would sell the Swedish manufacturer after the sale of Aston Martin and moves to sell Jaguar and Land Rover.