Poll: Swedes oppose state-ownership of carmakers

Dec 17, 2008, 9:13 GMT

Stockholm - A majority of Swedes oppose the Swedish state taking temporary control over troubled carmakers Volvo and Saab, according to a poll published Wednesday.

Both carmakers are owned by US groups. Volvo is owned by US giant Ford while Saab is owned by General Motors. Both US companies have posted huge losses and have said they are considering selling their Swedish subsidiaries.

The survey said 49 per cent were against the state stepping in as a temporary owner, while 36 per cent said the favoured it, the Svenska Dagbladet newspaper said.

About 10 per cent were doubtful or undecided, the survey conducted by polling institute Sifo said. One per cent said the state could temporarily support only Saab and 3 per cent wanted the state to help Volvo.

Sifo surveyed 1,000 Swedes via telephone from December 10 to 15.

The poll apparently supports the government's line, where Deputy Prime Minister Maud Olofsson and Finance Minister Anders Borg have remained cool to calls for state ownership.

Mona Sahlin, leader of the opposition Social Democrats, has said she favoured a more active state role 'in an emergency.'

Finance Minister Anders Borg told Svenska Dagbladet that the government had considered state ownership, but concluded that the groups needed 'long-term owners' with knowledge of the car industry.

'The state is not a good long-term owner for Volvo and Saab,' he added.

A week ago, the government presented a 28-billion-kronor (3.4- billion-dollar) package aimed at securing the long-term viability of Swedish-based vehicle makers.

It included funds for a research and development centre as well as credit guarantees and rescue loans.

The Swedish vehicle industry, including heavy-vehicle makers Volvo Trucks and Scania - along with subcontractors - is estimated to employ some 140,000 people.