In the wake of third quarter losses that still represented an improvement for the Ford Motor Company over 2006, the automaker has said it will retain the Volvo brand for the time being.

Alan Mulally, Ford CEO, speaking to Automotive News said, "Our plan now is not to sell Volvo but to improve its cost structure and brand positioning. I think we can do substantially better than we are today.

The company is, however, continuing to "review its brand portfolio," meaning Volvo is not necessarily safe in the long term unless it can operate more efficiently and independently, cooperating on both purchasing and product development.

Ford did not disclose the exact amount of Volvo's losses for the third quarter although the suggestion has been that the brand dropped in excess of $100 million.

Three brands, Volvo, Jaguar, and Land Rover comprise a subsidiary of Ford established in 1999 called the Premier Automotive Group.

Ford's plans for Volvo include elevating its stance globally as a premium brand and the company will disclose the financial performance of the brand in 2008.

Ford's own net loss for the third quarter totaled $380 billion, a substantial improvement from the staggering figure of $37.1 billion in 2006.