Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[REPORT: Ford sells off former PAG headquarters in Irvine]]>http://www.autoblog.com/2009/06/04/report-ford-sells-off-former-pag-headquarters-in-irvine/http://www.autoblog.com/2009/06/04/report-ford-sells-off-former-pag-headquarters-in-irvine/http://www.autoblog.com/2009/06/04/report-ford-sells-off-former-pag-headquarters-in-irvine/#commentsFiled under: , ,



Not long ago, Ford's Premier Auto Group was filling the halls of a big office building in Irvine California. In recent years, Aston Martin, Land Rover and Jaguar were sent packing, and Lincoln dragged itself back to Detroit, leaving the halls lonely for sole survivor Volvo, which is also headed back to Rockleigh, New Jersey.

Rather than pay for a constantly emptying building, Ford has sold its Premier Auto Group HQ to Transpacific Company. The $73 million dollar deal removes a liability from Ford's balance sheet, although Ford had already been leasing space to Taco Bell's parent company. The fast food corporation will move its headquarters to the Irvine, California building in 2010. So it goes as Ford divests itself of properties and restructures.

Although we have yet to receive official confirmation, word is that the big weekly Cars & Coffee meetup that happens in Mazda's parking lot nearby will continue. Thanks for the tip, Will!

[Source: The Los Angeles Times]

REPORT: Ford sells off former PAG headquarters in Irvine originally appeared on Autoblog on Thu, 04 Jun 2009 18:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ford pagford pag irvineford pag irvine saleford pag irvine soldford premier auto groupFordPagFordPagIrvineFordPagIrvineSaleFordPagIrvineSoldFordPremierAutoGroupirvine headquarters soldIrvineHeadquartersSoldpag headquartersPagHeadquarterspremier auto groupremier auto grouppremier auto group headquarterspremier automotivepremier automotive groupPremierAutoGrouPremierAutoGroupPremierAutoGroupHeadquartersPremierAutomotivePremierAutomotiveGrouptaco bellTacoBelltranspacific companyTranspacificCompanyThu, 04 Jun 2009 18:30:00 EST<![CDATA[Safety First: Daimler reportedly passes on buying Volvo]]>http://www.autoblog.com/2009/01/04/safety-first-daimler-reportedly-passes-on-buying-volvo/http://www.autoblog.com/2009/01/04/safety-first-daimler-reportedly-passes-on-buying-volvo/http://www.autoblog.com/2009/01/04/safety-first-daimler-reportedly-passes-on-buying-volvo/#commentsFiled under: , , ,

Volvo and Mercedes-Benz have been known for decades as automotive safety pioneers, sharing between them the bulk of new innovations in the field. These days, however, automakers are as as concerned about their financial security as they are with occupant safety. With the latter in mind, reports indicate that Mercedes parent company Daimler has decided against buying Volvo from Ford.

Amidst slumping sales and a troubled future, reports surfaced a month ago that Ford was looking for a buyer for the last remnant of its ill-fated Premier Auto Group, after Land Rover, Jaguar and Aston Martin were all sold off to Asian investors. Ford bought the Swedish automaker from the Volvo group for $6.45 billion back in 1999, and is looking to offload it for $6 billion today. Unfortunately for FoMoCo, nobody seems to have the cash. The Volvo group has rejected the possibility of buying its car division back, the Swedish government isn't interested, BMW reportedly considered the prospect but ultimately rejected it, and now Daimler, which has had its fill of acquisition deals with Detroit, has passed as well. At this point, Chinese automakers like Shanghai (SAIC) and Geely, as well as Korean automaker Hyundai seem like the only tenable prospective buyers left.

[Source: Economic Times]

Safety First: Daimler reportedly passes on buying Volvo originally appeared on Autoblog on Sun, 04 Jan 2009 12:03:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>daimlerdaimler volvoDaimlerVolvofordford pagford volvoFordPagFordVolvomercedespagvolvovolvo carVolvoCarSun, 04 Jan 2009 12:03:00 EST<![CDATA[Ford discusses selling Volvo with Renault, again]]>http://www.autoblog.com/2008/06/30/ford-discusses-selling-volvo-with-renault-again/http://www.autoblog.com/2008/06/30/ford-discusses-selling-volvo-with-renault-again/http://www.autoblog.com/2008/06/30/ford-discusses-selling-volvo-with-renault-again/#commentsFiled under: , ,

As Ford reportedly prepares to offload Volvo and dismantle the last remaining vestiges of its once proud Premier Automotive Group, reports indicate that discussions were, once again, held with Renault.

The French automaker was tipped as a potential buyer when Jaguar was on the table, expressing interest in acquiring a luxury brand (and evidently forgetting it had Infiniti up its sleeve). Along with Chinese automakers, Renault has reportedly been in on-again, off-again discussions with Ford over the sale of Volvo as well, though Ford insists that its Swedish subsidiary is not for sale.

[Source: Automotive News - subs. req'd]

Ford discusses selling Volvo with Renault, again originally appeared on Autoblog on Mon, 30 Jun 2008 19:17:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fordford pagford volvoFordPagFordVolvopag volvoPagVolvorenault ford volvorenault volvoRenaultFordVolvoRenaultVolvovolvoMon, 30 Jun 2008 19:17:00 EST<![CDATA[Ford stock up thanks to Kerkorian, Volvo remains "not for sale"]]>http://www.autoblog.com/2008/05/05/ford-stock-up-thanks-to-kerkorian-volvo-remains-not-for-sale/http://www.autoblog.com/2008/05/05/ford-stock-up-thanks-to-kerkorian-volvo-remains-not-for-sale/http://www.autoblog.com/2008/05/05/ford-stock-up-thanks-to-kerkorian-volvo-remains-not-for-sale/#commentsFiled under: , , , ,

Kirk Kerkorian's associate Jerry York stated last Thursday that Ford would do well to sell Volvo and extinguish Mercury. Coincidentally (or not) Ford's stock zoomed up to one of the highest price levels it's seen in the last six months. Tracinda Corporation, Kerkorian's firm, has expressed faith in Mulally's leadership and his plan to strengthen the automaker. There has been speculation about a sale of Volvo in the past, and punditry has been begging the Blue Oval to do something with Mercury, or put it out of its misery, for years.

While York seems certain that Volvo will be on the market in less than two years time, Ford continues to state that the Swedish subsidiary is not for sale. Looking at the Premier Auto Group shuffle of the last year, though, it could certainly be deduced that Volvo will indeed go on the market soon. Moving the brand out of the PAG location in Irvine, CA and back to Rockleigh, NJ, where Volvo had set up shop when it first started selling cars in the United States, is a move that set off whispers of impending sale. While it might be nothing more than right-sizing office space for Volvo now that the rest of the Premier Auto Group is gone, a cross country move is a deft way to trim operational fat without layoffs, and divorcing Volvo's North American operations from Ford locations makes an ownership transition easier, too. While Ford and Volvo products share a lot of engineering and parts, a well-negotiated deal wouldn't preclude a sale that gently phases out the currently entwined platforms as they age and replacements are brought to market.

[Source: Automotive News - sub req. - Photo: Bloomberg]

Ford stock up thanks to Kerkorian, Volvo remains "not for sale" originally appeared on Autoblog on Mon, 05 May 2008 19:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fordford motor companyford pagford premier auto groupford stockFordMotorCompanyFordPagFordPremierAutoGroupFordStockkirk kerkoriankirk kerkorians tra...kirk kirkorkianKirkKerkorianKirkKerkoriansTra...KirkKirkorkianpremier auto groupPremierAutoGrouptracindatracinda corptracinda corp.TracindaCorpTracindaCorp.volvovolvo saleVolvoSaleMon, 05 May 2008 19:32:00 EST<![CDATA[Ford PAG abandoning California HQ]]>http://www.autoblog.com/2008/03/17/ford-pag-abandoning-california-hq/http://www.autoblog.com/2008/03/17/ford-pag-abandoning-california-hq/http://www.autoblog.com/2008/03/17/ford-pag-abandoning-california-hq/#commentsFiled under: , , , ,

After setting up its Premium Automotive Group back in the late '90s, Ford built the luxury über-division an award-winning, shiny new facility in Irvine, California in 2001, far away from the parent company's influence in Dearborn, Michigan, as the American hub for the predominantly European group. Since then, however, PAG has been slowly dwindling away, as Lincoln was separated from the group, Aston Martin was recently sold off and Jaguar and Land Rover are on the verge of departure, as well. Once those two brands are gone, only Volvo will remain. Now the last remaining PAG constituent is moving its U.S. operations to Rockleigh, New Jersey.

The shift to the East Coast for Volvo is expected to cut overhead and increase the overlap in working hours with PAG's headquarters in England and Volvo HQ in Sweden, but puts another nail in the coffin of former Ford CEO Jacques Nasser's grand vision of a profit-generating luxury enterprise. Witness one more burned-out star saying goodbye to Hollywood.

[Source: Automotive News - sub. req'd]

Ford PAG abandoning California HQ originally appeared on Autoblog on Mon, 17 Mar 2008 07:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ford pagford pag irvineford pag irvine californiaford pag new jerseyFordPagFordPagIrvineFordPagIrvineCaliforniaFordPagNewJerseypag californiapag rockleighPagCaliforniaPagRockleighpremium auto grouppremium automotive groupPremiumAutoGroupPremiumAutomotiveGroupvolvo californiavolvo new jerseyvolvo rockleigh njVolvoCaliforniaVolvoNewJerseyVolvoRockleighNjMon, 17 Mar 2008 07:32:00 EST