LOS ANGELES - Ford Motor Co.'s spending spree may have ended with the proposed $6.45 billion acquisition of Volvo Car Corp., Ford Motor President Jac Nasser said here last week.
Ford has no interest in acquiring stakes in debt-ridden Nissan Motor Co. Ltd. or Mitsubishi Motors Corp., both of which have put themselves in play on the world market.
As for rumors about Ford chasing BMW, however, Nasser said: 'We have an adequate spread of brands and positioning. We would consider a merger only if it were an irresistible opportunity and represented the right culture and timing. BMW is a very good brand, but the owners have made it very clear that they want to remain independent.'
Nasser also debunked Japanese press reports that Ford plans to buy the remaining 66.6 percent stake in Mazda Motor Corp. and make Mazda a wholly owned subsidiary.
'The types of things we're doing with Mazda - the deep integration of product development, the strategic fit of manufacturing, ensuring the brands fit, finding efficiencies of powertrains, making a better distribution and logistics system - are already happening, so there's no need to change the present arrangement,' Nasser said Thursday, Feb. 18, after a speech at Town Hall Los Angeles.
Nasser has made similar pronouncements before, however.
At the Detroit auto show in January, Nasser called 'preposterous' then-widespread reports that Ford was scouting various companies as takeover possibilities.
Ford, he told reporters, did not need an acquisition because of its current strengths and brand depth.
'I never say never, but there are no discussions or possibilities of announcements pending,' he said.
Barely three weeks later, Nasser stood on a stage in Sweden with AB Volvo CEO Leif Johannson to announce Ford's agreement to purchase Volvo Car Corp. for $6.45 billion.