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Ford set to announce sale of Jaguar, Land Rover to Tata on Wednesday
Could the protracted sale of Jaguar and Land Rover from Ford to Tata finally be coming to an end? After learning last week that Tata has secured the financing required to make the deal possible, reports are coming from London's Financial Times suggesting that the official announcement of the sale, reportedly worth $2 billion, could come as soon as on Wednesday, when Jaguar workers return to work after enjoying their Easter holiday. This sale, of course, follows up Ford's sale of Aston Martin, leaving a lonely Volvo as the only company left of Ford's Premium Automotive Group.
Details of the deal include Tata's assurance that they will continue to buy engines from Ford for Jaguar and Land Rover and Ford's continuing to contribute to the pension fund of both marques.
[Source: Automotive News - Sub. Req.]
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Reader Comments (Page 1 of 1)
mammy 5:26PM (3/24/2008)
who knows what will happen there. But this might be better since tata is a rich company
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johnmsp 5:43PM (3/24/2008)
"Details of the deal include Tata's assurance that they will continue to buy engines from Ford for Jaguar and Land Rover "
http://www.turboconnection.com/images/picard.jpg
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Andrew L 5:48PM (3/24/2008)
Lincoln should go BACK to the Premier Auto Group so it can move more up market and give Mercury a much needed break from being stuck in between a rock and a hard place
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JAG 8:58PM (3/24/2008)
At first I thought to my self Oh poor LR/Jaguar put later I got to think that maybe TATA will cherished much more the brand name and values that the bean counters at Ford in Michigan. For the Indian Group it will be a matter of pride to grow this companies against a matter of just profits with shared platforms.
So good luck TATA with your new toys!
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zapperdude60 9:13PM (3/24/2008)
what about mazda and their beautiful concepts? looks pretty premium to me. and aren't mercury/lincoln considered premium versions of ford cars?
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cameron42985 9:38PM (3/24/2008)
Tata needs to learn from the mistakes of others and not buy dead brands.
It's all downhill from here.
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brn 10:05PM (3/24/2008)
$2billion doesn't seem like all that much for LR/Jag. I thought this was more of a $5B deal.
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Volk 11:44PM (3/24/2008)
Must be embarrassing for English, former colony and 3rd world country buys what used to be crown jewels of GB industry.
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Ron 3:02AM (3/25/2008)
Ford engines! We've seen enough damages from those lousy things.
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Avinash machado 6:22AM (3/25/2008)
Well, they are certainly better than Tata engines.
Landy 8:16AM (3/25/2008)
Roumor is, that Tata will kick the cat out of the house as soon as they are responsible to feed it!
Not the kind of animal welfare the most hope for...
And money burning Ford will soon shed a lot of tears to led Land Rover go for a few quick dollars.
What is Ford going to do if all the family silver is sold?
There's only one more chance left to fill the pocket by selling Volvo - but then they will have to find a way to make money by selling Ford cars! Even if this will sound like a very strange idea to Fords self celbrating guys in Dearborn...
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Coventry_Caterwalls 12:13PM (3/31/2008)
Range Rover and Jaguar weren't Ford's family silver, as they were British based brands, but Ford cars are still a helluvalot better than tatamobiles will ever be by lightyears, particulary since India's domestic market generally can't afford to buy a car.
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