PAG won't turn profit… again

It's being reported by AutoWeek via Automotive News that Ford's Premier Automotive Group, which includes Volvo, Jaguar, Aston Martin and Land Rover, will not turn a profit for the second year in a row. The collection of luxury brands lost $146 million before taxes during the first three quarters of 2005, including a $108 million loss in the third quarter. PAG is expected to earn about $11 million in pretax profit in the fourth quarter, however, and its losses in 2005 are nearly two-thirds less than the previous year. While Volvo and Land Rover are performing well in the marketplace so far this year, Aston Martin's miniscule volume and Jaguar's lack luster showing on the lots seem to be slowing the group's ascent.