Buyers looking for used Volvos in New Jersey might be interested to know that Ford is in talks with Geely Automobile of China.

Last year, Ford said that it wanted to sell Volvo so that it can focus on its core brands: Ford, Lincoln and Mercury. Ford acquired Volvo in 1999 from Volvo AB for $6.45 billion. One of the company’s spokeswomen, Maria Bohlin, says the manufacturer is happy to hear the news that Geely is Ford’s preferred bidder.

“It’s positive that it has been confirmed that there’s a preferred bidder,” said Bohlin. “Ford’s objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties,” said Lewis Booth, Ford’s executive vice president.

Sales of used Volvos in New Jersey could be impacted by Ford’s announcement because the popularity of certain cars is partially dependent on how financially healthy that automobile’s manufacturer is. Many people would choose not to buy a car if they believed the company that produced it were going under, as this could make it difficult to find parts should the car ever need maintenance.