BERLIN, Jan 3: German car giant Daimler has decided not to buy Swedish-based Volvo Cars from ailing US Ford, according to the weekly Der Spiegel’s upcoming edition.

“Daimler boss Dieter Spiegel has carried out a close examination of a possible purchase in the past few weeks and acknowledged a series of possible drawbacks,” the German weekly says.

Ford Motor Company said at the beginning of last month that it was reviewing strategic options for Volvo Car Corporation “in response to the significant decline in the global auto industry particularly in the past three months and the severe economic instability worldwide.”

Ford said the review probably would take several months to complete, adding that it would continue to work closely with Volvo Cars, which is restructuring “to operate on a more stand-alone basis” under chief executive Stephen Odell.—AFP