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[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[Amidst the loss trimming, Ford revises Volvo's strategy]]>http://www.autoblog.com/2007/11/10/amidst-the-loss-trimming-ford-revises-volvos-strategy/http://www.autoblog.com/2007/11/10/amidst-the-loss-trimming-ford-revises-volvos-strategy/http://www.autoblog.com/2007/11/10/amidst-the-loss-trimming-ford-revises-volvos-strategy/#commentsFiled under: , ,

Ford only lost hundreds of millions during the third quarter of 2007, versus the 5-something billion they torched through for the same period in 2006. Sales and revenue are up, and while we can't see it yet, there might be a light at the end of the tunnel. Of course, it could be attached to a train, but let's focus on the positive. Ford's been eyeing the sell off of some of their PAG holdings as a way to stem their ongoing losses, and it's been speculated that Volvo could be on the chopping block. For now, though, the brand appears to be something that Ford wants to hang on to. Along with the third-quarter finances, Ford announced a new stragegy is in the works for Volvo. Mulally has pledged to improve Volvos' stature as a premium product, as well as improving their cost structure (a corporate way to say make more money on the cars by driving down costs).

Volvo's platforms and technology are spread pretty liberally throughout the rest of Ford. The Taurus/Sable rides on a version of Volvo's P2 platform, and the Mazda 3, Euro Focus (yes, we know, "send it over here Ford, I'll buy one" - whatevs, you know you won't), and C30/S40/V50 are all on the C1 platform, while the EUCD platform which underpins the S80 and the new XC70/V70 wagons, as well as the upcoming Lincoln MKS. It would be hard for Ford to just cut the brand loose tomorrow, though reading between the lines makes it seem like they're positioning the Swedish automaker for future sale. The new plan includes improving the image of Volvo to a more premium status, distancing Ford from Volvo's operations, and fast-tracking product development. Making the division nearly an independent entity will increase its attractiveness when suitors come knocking, but it looks like Ford's biding its time for now, doing prep work to ensure a fat sale price when the eventuality occurs.

[Source: LLN]

Amidst the loss trimming, Ford revises Volvo's strategy originally appeared on Autoblog on Sat, 10 Nov 2007 11:03:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fordford platformsford profitsFordPlatformsFordProfitspagpag strategyPagStrategyvolvovolvo platformsvolvo profitsvolvo salevolvo strategyVolvoPlatformsVolvoProfitsVolvoSaleVolvoStrategySat, 10 Nov 2007 11:03:00 EST<![CDATA["How about we alienate our fans?" - Ford takes a page from the RIAA playbook]]>http://www.autoblog.com/2007/10/12/how-about-we-alienate-our-fans-ford-takes-a-page-from-the-r/http://www.autoblog.com/2007/10/12/how-about-we-alienate-our-fans-ford-takes-a-page-from-the-r/http://www.autoblog.com/2007/10/12/how-about-we-alienate-our-fans-ford-takes-a-page-from-the-r/#commentsFiled under: , , ,



The internet has made it incredibly easy for groups of enthusiasts to communicate and collaborate. Gearheads benefit a lot from this. It's easy to share pictures of our beloved rides, and with services like CafePress, you can even get some cool merchandise made up. Just like the record business is going after people who allegedly stole a whole bunch of music (how about the record company contracts, which are often a detailing of how the label will pillage an artist, cloaked in the fig leaf of legalese?), Ford has decided that it didn't like a bunch of Jaguar fans making up calendars and selling them to a small group of like-minded people. The idea that there'd be enthusiasts so enamored with one of its PAG properties that they'd go through all that effort was so abhorrent to Ford that the automaker shot off a trademark infringement lawsuit to put an end to the Leaper Love Fest. Maybe Jag's next owner will embrace the fans rather than alienate them.

Thanks for the tip, Chuck

[Source: XKE Data via Goolsbee.org]

"How about we alienate our fans?" - Ford takes a page from the RIAA playbook originally appeared on Autoblog on Fri, 12 Oct 2007 10:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fordjaguarlawsuitpagpremier auto groupPremierAutoGrouptime warpTimeWarpxkxkeFri, 12 Oct 2007 10:29:00 EST<![CDATA[Jaques Nasser still interested in Jaguar/Land Rover, schedules factory tours]]>http://www.autoblog.com/2007/08/06/jaques-nasser-still-interested-in-jaguar-land-rover-schedules-f/http://www.autoblog.com/2007/08/06/jaques-nasser-still-interested-in-jaguar-land-rover-schedules-f/http://www.autoblog.com/2007/08/06/jaques-nasser-still-interested-in-jaguar-land-rover-schedules-f/#commentsFiled under: , , , ,



Just about a year ago we reported that former Ford CEO, Jacques Nasser, was interested in possibly buying Land Rover and Jaguar. It was kind of ironic, given the fact that Nasser had been instrumental in the acquisition of LR and Volvo during his tenure at Ford. Well, it's deja vu all over again as word has spread that Nasser is set to tour those British companies in the very near future. Working under JPMorgan Chase & Co.'s One Equity Partners LLC, he is expected to meet with trade union officials while there to discuss a possible purchase. No comment from Ford yet.

One Equity is seen as a master of the quick flip, having banked a 79% gain on Polaroid when they sold it after just two years of ownership recently. We're not sure what their plans for the two marques would be, but reports seem to indicate that One Equity wants Ford to retain 30% to 50% of these firms to "ensure security of engines and parts supplies." When Ford shed Aston Martin earlier this year, Ford retained a 15% stake in the company. So Nasser sets up PAG while with Ford and might end up having a hand in it being dismantled. Interesting world.

[Source: Detroit Free Press]

Jaques Nasser still interested in Jaguar/Land Rover, schedules factory tours originally appeared on Autoblog on Mon, 06 Aug 2007 14:04:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Jacques NasserJacquesNasserJaguar saleJaguarSaleLand Rover saleLandRoverSaleOne Equity PartnersOneEquityPartnersPAGMon, 06 Aug 2007 14:04:00 EST<![CDATA[A Swedish solution for taking Volvo off Ford's hands]]>http://www.autoblog.com/2007/08/02/a-swedish-solution-for-taking-volvo-off-fords-hands/http://www.autoblog.com/2007/08/02/a-swedish-solution-for-taking-volvo-off-fords-hands/http://www.autoblog.com/2007/08/02/a-swedish-solution-for-taking-volvo-off-fords-hands/#commentsFiled under: , ,

Ford: "Volvo's not for sale."

BMW: "You sure?"

Ford: "Volvo's not for sale."

Cerberus: "You sure?"

Ford: "Volvos' not for sale."

And so it goes. Another week, another rumor of a possible Volvo suitor. Ford's staked a lot of their future on Volvo technology, so it's understandable that of all the PAG brands, Volvo is the one that Ford's the most reluctant to sell. With whisperings flying as thick as 17-year cicadas, a Volvo insider has intimated that the brand's Swedish management would like to see Swedish owners return were a sale to occur. The Swedes are extremely proud of Volvo, even now there's a 3rd party set up after the sale to Ford with the sole purpose of looking after the name. Ready and willing to take up the reins, a consortium of Swedish investors, inventively named Investor AB, has already collected over half the estimated value of Volvo, and they're itching to get their brand back. Ford would retain a percentage, and the difference between what's already in hand and what Ford might ask would be raised on the Swedish stock exchange. In light of Ford's recent Q2 profit, Dearborn may just hold on to Volvo for now. The next time they're feeling the pinch, Ford would do well to remember that Volvo is the most salable piece of PAG, one that would actually bring a a decent price. We doubt they need reminding.

[Source: Motor Authority]

A Swedish solution for taking Volvo off Ford's hands originally appeared on Autoblog on Thu, 02 Aug 2007 07:55:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>investorpagsaleswedishvolvowallenbergThu, 02 Aug 2007 07:55:00 EST<![CDATA[REPORT: Up to six bidders vying for Jaguar and Land Rover]]>http://www.autoblog.com/2007/07/19/report-up-to-six-bidders-vying-for-jaguar-and-land-rover/http://www.autoblog.com/2007/07/19/report-up-to-six-bidders-vying-for-jaguar-and-land-rover/http://www.autoblog.com/2007/07/19/report-up-to-six-bidders-vying-for-jaguar-and-land-rover/#commentsFiled under: , , ,

Up to six different potential buyers are expected to place bids for the Jaguar and Land Rover brands when the auction for the British automakers gets underway later today. In the running are private equity firms Cerberus, Ripplewood Holdings and One Equity Partners, plus new entrants Tata Motors and Mahindra.

Tata Motors is already in negotiations with Fiat over a deal to build Fiat cars in India, and together, the two may form a new joint-venture to finance the bid for the British marques. According to reports, Tata has instructed several merchant bankers to evaluate the possibility of a joint offer for Jaguar and Land Rover, and both Tata and Mahindra recently signed confidentiality agreements.

Automakers Renault and Nissan have reportedly dropped out of contention, as did Hyundai, which yesterday announced that it has no plans to acquire any companies in the near future.

It's expected Ford won't announce the winning bidder for several months as it will take time for all the companies to do their due diligence.

[Source: Forbes]

REPORT: Up to six bidders vying for Jaguar and Land Rover originally appeared on Autoblog on Thu, 19 Jul 2007 15:36:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fordjaguarland roverLandRoverPAGsaleThu, 19 Jul 2007 15:36:00 EST<![CDATA[India's Tata Motors interested in Jaguar and Land Rover]]>http://www.autoblog.com/2007/07/19/indias-tata-motors-interested-in-jaguar-and-land-rover/http://www.autoblog.com/2007/07/19/indias-tata-motors-interested-in-jaguar-and-land-rover/http://www.autoblog.com/2007/07/19/indias-tata-motors-interested-in-jaguar-and-land-rover/#commentsFiled under: , ,



It doesn't seem that anyone else has shown interest in Jaguar or Land Rover - some rumored suitors have outright denied any interest - but Indian industry giant Ratan Tata is contemplating adding the luxury marques to his Tata Motors unit. Tata has set his advisory bloodhounds after the business case of making Ford an offer for the brands, which could fetch $1.5 billion together.

It seems antithetical considering Tata Motors push to develop the world's cheapest car with a $2,500 price tag. The last Land Rover we drove was thirty-eight times that expensive. It would certainly be a nice property for the conglomerate Tata Sons, parent to the automaking concern, to take on. There are more and more folks worldwide newly flush with cash and looking for cars with some curb appeal. No word has been forthcoming from Tata, rumored to have signed a confidentiality agreement with Ford recently, and Ford also offered no comment.

[Source: Telgraph.co.uk]

Thanks for the tip, Raj!

India's Tata Motors interested in Jaguar and Land Rover originally appeared on Autoblog on Thu, 19 Jul 2007 12:34:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fordindiajaguarland roverLandRoverpagrange roverRangeRoverroversaletataThu, 19 Jul 2007 12:34:00 EST<![CDATA[Next Range Rover to go upmarket, downmarket and lighter-weight]]>http://www.autoblog.com/2007/07/16/next-range-rover-to-go-upmarket-downmarket-and-lighter-weight/http://www.autoblog.com/2007/07/16/next-range-rover-to-go-upmarket-downmarket-and-lighter-weight/http://www.autoblog.com/2007/07/16/next-range-rover-to-go-upmarket-downmarket-and-lighter-weight/#commentsFiled under: ,

With Ford selling off parts of its Premium Automotive Group (PAG) one at a time, it remains uncertain if Land Rover and Jaguar will end up under the same ownership in the future. In the meantime, Land Rover is collaborating with Jaguar on a future flagship model that will draw on Jaguar's expertise to produce a new Range Rover with a lighter-weight construction that could expand both upmarket and down.

Based on a new aluminum structure called Premium Lightweight Architecture, the next Range Rover is anticipated to shed about 40% off the unpainted unibody's weight, and some 800 pounds off the curb weight. Applying the magic formula of less weight and more power from a revised engine line-up, also benefiting from Jaguar collaboration, would contribute to improved performance and fuel economy. An all-new 5.0-liter V8 could produce about 350 hp, or as much as 460 supercharged, while the existing range of diesels are anticipated to be bored out from 2.7 liters to 3 and from 3.6 liters to 4. If Land Rover chose to shoehorn in the smaller Jaguar/Land Rover turbodiesel into the lightweight Range Rover, it would create a lower model in the range, while the top-end, supercharged version could fetch as much as $200,000 and feature a full spectrum of luxury equipment to anchor the SUV's position at the top of the luxury sport-ute market.

A new styling direction, led by new design chief Phil Simmons, is expected to include shorter overhangs and de-emphasized greenhouse to give a tauter and less top-heavy appearance. If given the green light for development by Ford or by any future parent company, the Range Rover would be the first in a series of new models from Land Rover, to be followed by a new Discovery (LR2), Freelander (LR3), Defender and Range Rover Sport.

[Source: Motor Authority via AutoWeek]

Next Range Rover to go upmarket, downmarket and lighter-weight originally appeared on Autoblog on Mon, 16 Jul 2007 18:23:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>aluminumfordjaguarlandlight weightLightWeightpagrangeroverMon, 16 Jul 2007 18:23:00 EST<![CDATA[Cerberus joins group of financial investors to bid for Jaguar and Land Rover]]>http://www.autoblog.com/2007/06/14/cerberus-joins-group-of-financial-investors-to-bid-for-jaguar-an/http://www.autoblog.com/2007/06/14/cerberus-joins-group-of-financial-investors-to-bid-for-jaguar-an/http://www.autoblog.com/2007/06/14/cerberus-joins-group-of-financial-investors-to-bid-for-jaguar-an/#commentsFiled under: , , , , ,



While poring over the RSS feeds today, we noticed a tiny article in Automotive News about Ford's desire to sell off both Jaguar and Land Rover. The potential sale has been in the news as of late, but this article caught our eye because it reveals a potential bidder with which we're all familiar. According to Automotive News, three private equity groups including Blackston, Cinven and... Cerberus (!) have shown interest in joining the auction for two of Ford's Premiere Auto Group brands. Cerberus, of course, is the same private equity group involved in the purchase of Chrysler from DaimlerChrysler.

While the news that Cerberus has thrown its hat in the ring for the purchase of Jaguar and Land Rover is not necessarily surprising (this is what private equity firms do, they buy stuff), the thought of a new American automaker housing the Chrysler, Dodge and Jeep brands along with both Jaguar and Land Rover certainly changes the landscape of the domestic auto industry in the near future. While Land Rover isn't in near as dire a straits as Jaguar, neither brand are performing at their peak potential. Unfortunately, neither is any Chrysler Group brand. Cerberus must really believe it has the magic touch to be getting involved with so many down but not out automakers.

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

Cerberus joins group of financial investors to bid for Jaguar and Land Rover originally appeared on Autoblog on Thu, 14 Jun 2007 15:35:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>cerberus capital managementCerberusCapitalManagementPAGPremier Auto GrouPremier Auto GroupPremierAutoGrouPremierAutoGroupprivate equity firmPrivateEquityFirmThu, 14 Jun 2007 15:35:00 EST<![CDATA[BMW buying Volvo rumour circulates again]]>http://www.autoblog.com/2007/05/29/bmw-buying-volvo-rumour-circulates-again/http://www.autoblog.com/2007/05/29/bmw-buying-volvo-rumour-circulates-again/http://www.autoblog.com/2007/05/29/bmw-buying-volvo-rumour-circulates-again/#commentsFiled under: , , ,



Earlier this month, Autocar reported that BMW had expressed significant interest in buying the Volvo brand from Ford Motor Company early in 2007. The report claimed BMW had gone so far as to request financial data about the Swedish automaker.

Yesterday, the Swedish newspaper Goteborgs Posten threw another logo on this rumor's fire by reporting that sources within Ford have confirmed that BMW is exploring the possibility of purchasing Volvo. Another source has even claimed BMW and Ford have already begun informal talks.

Our previous post already touched on all the questions that need answering, including why BMW, which became the go-it-alone automaker after owning Land Rover left a bad taste in its mouth, would jump back into the ownership game. Also, while BMW and Volvo have distinct identities (the Ultimate Driving Machine versus the ultimate safety machine), there would at least be some overlap in their respective lineups.

Finally, while Ford has stated that nothing is sacred when it comes to its Premiere Automotive Group, of which Volvo is a member, why would it sell one of PAG's most promising brands? We have an answer for that one: Volvo's actually worth something. While many, including Ford itself, might hate to see Volvo leave the fold, the Swedish brand would likely catch a premium price on the market and help Ford fund its turnaround.

Would a BMW/Volvo ticket capture the consumer's heart? This armchair analyst is hardly qualified to give an answer, except to say that Volvo is a brand on the verge of some big things (C30 anyone?) and requires a patient parent company with deep enough pockets to see it through.

Thanks to everyone who sent us the tip!]

[Source: Reuters]

BMW buying Volvo rumour circulates again originally appeared on Autoblog on Tue, 29 May 2007 07:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BMWbreakingbuyoutmergerPAGpremier auto grouppremier automotive groupPremierAutoGroupPremierAutomotiveGrouppremiere automotive groupPremiereAutomotiveGrouppurchaseVolvoTue, 29 May 2007 07:32:00 EST<![CDATA[Ford's not abandoning Aston Martin]]>http://www.autoblog.com/2007/03/19/fords-not-abandoning-aston-martin/http://www.autoblog.com/2007/03/19/fords-not-abandoning-aston-martin/http://www.autoblog.com/2007/03/19/fords-not-abandoning-aston-martin/#commentsFiled under: , , , ,

It'd be far too easy to dismiss as negligible the minority stake in Aston Martin retained by Ford after the sale, but even in the new era, Aston models will continue to benefit from its ties to the Ford Motor Corporation.

In addition to the safety systems expertise garnered from Aston's former PAG sister-company Volvo, on which we reported earlier, Ford resources will continue to have input into currently-produced and upcoming Aston Martin products. in a number of ways. First, Ford still owns the engine plant where Aston Martin's V8s and V12s are built, in Cologne, Germany. Second, even though Aston is no longer a wholly-owned Ford subsidiary, the British sportscar-maker will continue to benefit from FoMoCo's buying power in securing bulk rates on raw materials, especially aluminum. And third, Ford engineers are tipped to play an even larger role in developing future Astons, input which will come in handy especially as AM rushes to get the Rapide to market ahead of Porsche, which has been working on the Panamera for some time now.

When the sale was announced, Ford's statement read that they wished Aston Martin well in its new stage. As it turns out, they won't be leaving that up to chance.

Related posts:

[Source: Motor Authority]

Ford's not abandoning Aston Martin originally appeared on Autoblog on Mon, 19 Mar 2007 18:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>astondevelopmentengineerfordinputmartinpagproductionrapidesalevolvoMon, 19 Mar 2007 18:32:00 EST<![CDATA[Aston Martin sale almost a done deal, Prodrive founder in the lead]]>http://www.autoblog.com/2007/03/08/aston-martin-sale-almost-a-done-deal-prodrive-founder-in-the-le/http://www.autoblog.com/2007/03/08/aston-martin-sale-almost-a-done-deal-prodrive-founder-in-the-le/http://www.autoblog.com/2007/03/08/aston-martin-sale-almost-a-done-deal-prodrive-founder-in-the-le/#commentsFiled under: ,



Coming out of Geneva along with the exodus of automotive journalists are reports that a sale of Aston Martin is imminent, and that the likely winning bid has come from a consortium headed by Prodrive founder David Richards. The expected bid is rumored to be around $965,800,000 (£500,000), or about half of what Ford Motor Co. was hoping to get for its most premium of brands. Ford is expected to retain an interest in Aston Martin since it's still the brand's number one supplier of parts, and current chief Ulrich Benz, who himself submitted a bid to own the brand he runs, should remain in his position for the time being.

Despite the lower than hoped for selling price, Ford is reportedly pleased to have found a new owner with experience in the auto biz and an already-established connection to the Aston Martin brand. Prodrive runs Aston Martin's racing team and has been connected with the automaker in one way or another for many years, so the purchase indeed seems like a good fit. We'll let you know when word comes that the sale is final, which is expected before the end of the week.

[Source: Daily Telegraph via GMInsideNews]

Aston Martin sale almost a done deal, Prodrive founder in the lead originally appeared on Autoblog on Thu, 08 Mar 2007 13:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>aston martinAstonMartindavid richardsDavidRichardsPAGprodrivesaleThu, 08 Mar 2007 13:32:00 EST<![CDATA[Premier Auto Group and Ford Europe to turn profit in 2007]]>http://www.autoblog.com/2007/03/06/ford-of-europe-and-pag-to-turn-profit-in-2007/http://www.autoblog.com/2007/03/06/ford-of-europe-and-pag-to-turn-profit-in-2007/http://www.autoblog.com/2007/03/06/ford-of-europe-and-pag-to-turn-profit-in-2007/#commentsFiled under: ,

Ford Motor Company has received a lot of negative press the past couple of years, so we think any good news is definitely worth reporting. After years of losses from its Premiere Automotive Group (PAG), Ford is finally expecting a 2007 profit. PAG's good news actually started in the 4th quarter of 2006 when the luxury unit posted a $191 million profit.


PAG will generate money for Ford with the upcoming sale of Aston Martin, as well. Ford head of Europe Lewis Booth pegged the timing of the pending sale as 'this year'. A Reuters source priced the sale at more than $865 million.

Ford of Europe will also see another year of positive financials after making a profit of $469 million in 2006 and $73 million in 2005. We think new models like the Mondeo, Volvo S80, and Land Rover LR2 can only help Ford's overseas operations in 2007. Now if they could just fix that pesky North American division.

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

Premier Auto Group and Ford Europe to turn profit in 2007 originally appeared on Autoblog on Tue, 06 Mar 2007 14:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fordjaguarland roverLandRoverPAGvolvoTue, 06 Mar 2007 14:31:00 EST<![CDATA[Scoop: Louis Vuitton buys Aston Martin]]>http://www.autoblog.com/2007/02/01/scoop-louis-vuitton-buys-aston-martin/http://www.autoblog.com/2007/02/01/scoop-louis-vuitton-buys-aston-martin/http://www.autoblog.com/2007/02/01/scoop-louis-vuitton-buys-aston-martin/#commentsFiled under: , , , ,

All the bids are in and the winning bidder has been revealed: Aston Martin is being bought by LVMH Moet Hennessy Louis Vuitton SA, the French luxury goods consortium that produces upper-crust products ranging from leather trunks and wallets to champagne and cognac...and now exotic luxury sports cars, too.

In placing the highest bid, Louis Vuitton beat out some serious contenders, including consortia led by Aston's current boss, billionaire moguls and numerous heavy-hitting investment firms.

Ford Motor Company will reportedly retain 15% interest in Aston Martin when Louis Vuitton takes over. Although both Ford PAG and Louis Vuitton declined to comment to DowJones MarketWatch, the media outlet that broke the story, German car mag Autobild will be running the story tomorrow (Friday).

While there has been a history of fashion labels and automakers collaborating on special editions - including Aston Martin and Dunhill - the purchase of a stoic marque like Aston Martin is pioneering new ground, although Louis Vuitton does have an established history in sponsoring concours d'elegance.

Gold and brown DB9, anyone?

UPDATE: Motor Trend is reporting that the published reports regarding a sale to LVMH are inaccurate.

Related Posts:

[Source: MarketWatch]

Scoop: Louis Vuitton buys Aston Martin originally appeared on Autoblog on Thu, 01 Feb 2007 19:47:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>acquireastonauctionbidbuyfordhennessylouismartinmoetpagpurchasevuittonThu, 01 Feb 2007 19:47:00 EST<![CDATA[Line to buy Ford's Aston Martin grows]]>http://www.autoblog.com/2006/10/29/line-to-buy-fords-aston-martin-grows/http://www.autoblog.com/2006/10/29/line-to-buy-fords-aston-martin-grows/http://www.autoblog.com/2006/10/29/line-to-buy-fords-aston-martin-grows/#commentsFiled under: , , , , ,



At least five potential Aston Martin buyers have now whipped out their platinum cards in anticipation of taking the esteemed carmaker off Ford's hands. One London banker said, "The interesting question is whether this is just going to be a scrap between the rich men of Russia and the rich men of the Middle East." It's interesting to note the plethora of former Ford execs hoping to get a piece of Aston.

List of potential bidders after the jump.

[Source: thebusinessonline.com]

Continue reading Line to buy Ford's Aston Martin grows

Line to buy Ford's Aston Martin grows originally appeared on Autoblog on Sun, 29 Oct 2006 13:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>albert frereAlbertFrereaston martinaston martin saleaston martin vanquishAstonMartinAstonMartinSaleAstonMartinVanquishbernard arnaultBernardArnaultcerberus capitalCerberusCapitaldavid thursfieldDavidThursfieldfordford of europeFordOfEuropeistithmarjacques nasserJacquesNasserldvmagmamartin leachMartinLeachpagpremiere auto groupPremiereAutoGroupulich bezUlichBezSun, 29 Oct 2006 13:30:00 EST<![CDATA[Q4 for Ford will be even worse, stock prices still rise]]>http://www.autoblog.com/2006/10/25/q4-for-ford-will-be-even-worse-stock-prices-still-rise/http://www.autoblog.com/2006/10/25/q4-for-ford-will-be-even-worse-stock-prices-still-rise/http://www.autoblog.com/2006/10/25/q4-for-ford-will-be-even-worse-stock-prices-still-rise/#commentsFiled under: ,

Oh boy. It looks like the $5.8 billion loss Ford just reported isn't the end of the red ink for the foreseeable future. On Oct. 23, new Ford Motor Co. CEO Alan Mulally had to announce those huge third-quarter losses, the biggest quarterly loss since 1992. The Premier Automotive Group (the luxury group that includes Land Rover, Aston Martin, Jaguar, and Volvo), alone was responsible for $600 million of that loss. Now the company has announced that fourth-quarter earnings will also be dismal due to production cuts, lack of SUV demand, and employee buyouts.

Chief Financial Officer Don Leclaire reassured those in attendance that Ford's cash reserves were adequate to meet the crisis at the meeting on Monday. Although Ford had a negative cash flow of $3.1 billion during the quarter, it finished the period with $23.6 billion. This was partially possible after it transferred $3 billion from their VEBA (Voluntary Employee Benefits Assn.) fund.

Particularly troubling, at least according to Goldman Sachs analyst Robert Barry, were losses from the Ford Premier Auto Group and Ford Motor Credit: "The scale of losses in PAG were worse than expected -- a loss of $593 million vs. our estimates of a $134 million loss. And Ford Motor Credit earnings were well below our expectations -- just $448 million vs. our $710 million estimate." Goldman Sachs had rated Ford a "sell," but just removed that tag today, apparently feeling that the restructuring might make a difference. "We think the focus will remain weighted to restructuring upside," Robert Barry of Goldman Sachs said in a note to clients, after he upgraded Ford shares today to "neutral" from "sell."

It made a difference for Ford stock prices too, as shares were up 4.8 percent to $8.28 in afternoon trading on the New York Stock Exchange. That represents the biggest one-day percentage gain since late August when expectations were high for a turnaround plan by the automaker. That doesn't mean Ford is out of the water just yet, and to his credit, Mulally admitted that Ford's results were "unacceptable" and really didn't try to spin the numbers. After accounting for $2.1 billion of the previous quarter's loss, Mulally said that the sale of Jaguar and Land Rover is again being considered: "Clearly, the review of that is high on my priority list." Aston Martin is still on the block and has had at least three potential buyers step forward. The sale of AM could bring $500-$750 million.

On top of that, Ford is going to have to restate losses all the way back to 2001 as a result of a discrepancy in derivative investment accounting. None of this boosts Wall Street's confidence in the automaker. On the plus side though, Ford saw an unexpected gain from interest on overpaid taxes from as far back as the early 1990s, earnings from its South American operations, and from their share of increased Mazda sales. Mulally also said that Ford has stopped looking for an alliance with another automaker, such as the recently scrubbed Renault-Nissan deal with GM.

[Sources: BusinessWeek and Automotive News, sub req.]

Q4 for Ford will be even worse, stock prices still rise originally appeared on Autoblog on Wed, 25 Oct 2006 07:54:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Alan MulallyAlanMulallyDon LeclaireDonLeclaireFord Motor CoFordMotorCoGoldman SachsGoldmanSachsPAGPremier Automotive GroupPremierAutomotiveGroupRobert BarryRobertBarryWed, 25 Oct 2006 07:54:00 EST<![CDATA[First PAG/Mazda Coffee & Cars show has familiar feel]]>http://www.autoblog.com/2006/10/22/first-pag-mazda-coffee-and-cars-show-has-familiar-feel/http://www.autoblog.com/2006/10/22/first-pag-mazda-coffee-and-cars-show-has-familiar-feel/http://www.autoblog.com/2006/10/22/first-pag-mazda-coffee-and-cars-show-has-familiar-feel/#commentsFiled under: , , ,



The first new Coffee & Cars (C & C) show at Ford-PAG-Mazda is in the books and it was very impressive. We arrived at Mazda around 6:45 and there were already quite a few cars in the show lot. There were plenty of friendly people helping us find the spectator parking lot by the Premiere Auto Group end of the campus, much better than the security guard setup at Crystal Cove. It's nice to feel wanted too.

The Mazda lot (which is where the show is actually being held--Thank you Mazda!) is split into three sections: The main show lot, a small auxiliary lot at the rear, and another small front lot. This week the Porsche club was there early and volunteered some people to help direct traffic. Any club or marque can get in touch with Tom Shaughnessey and he'll get a calendar started. We heard that Lotus and Jaguar clubs were already volunteering. Basically the week's featured club can use the small front lot (which holds about 40 cars) and in exchange provides a few people to help keep things moving smoothly.

Bikes have their own parking area along the Advanced Design Center end of the PAG building, and there is another small lot at the back left of the Mazda main lot, which could be sectioned off for an individual marque too. Although most people seemed content to just grab a regular coffee and muffin at the tables, the cafe down the back of the building had the gourmet coffees, a few more food items, plus tables and chairs. A nice place to rest for a few minutes and that's also where the restrooms were.

More recap and a gallery of clickable artistic wallpapers after the jump.

Continue reading First PAG/Mazda Coffee & Cars show has familiar feel

First PAG/Mazda Coffee & Cars show has familiar feel originally appeared on Autoblog on Sun, 22 Oct 2006 14:04:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Crystal CoveCrystalCoveFerrariPAGPremiere Auto GroupPremiereAutoGroupSun, 22 Oct 2006 14:04:00 EST<![CDATA[Ford saves Crystal Cove meet]]>http://www.autoblog.com/2006/10/16/ford-saves-crystal-cove-meet/http://www.autoblog.com/2006/10/16/ford-saves-crystal-cove-meet/http://www.autoblog.com/2006/10/16/ford-saves-crystal-cove-meet/#commentsFiled under: , , , , , ,




CC is dead, long live CC. After getting the boot by the Irvine Company this past Saturday, Southern California car enthusiasts were concerned that the Crystal Cove car show would disappear all together. Not only were the car owners in dispair, but also the fans of these incredible vehicles from around the world who would search the web for pictures of what supercar or museum treasure had shown up last week. A worldwide cry went out from fans around the Internet, pleading for a place to host the meet so it could live on. Several offers of restaurants and beach parking lots came in, but in the end it was Ford Motor Company who stepped up and saved the show. Now that's a Bold Move we can get behind.

The story of how it happened is a little slice of what makes this such a great show and such a great home for auto enthusiasts. It seems a couple of executives down at Ford's Premier Auto Group building in Irvine were regulars at the weekly meet. Head of Styling Freeman Thomas and Communications Head John Clinard would cruise down to the show when they could to meet other car guys and see the cars that had turned out. When they found out about the show's impending demise, they started talking to people they knew who were involved with the show. A few ideas for a new home were being bandied about, but nothing that seemed likely to be able to handle the unique requirements of a weekly, informal, car fest that can attract as many as 1,000 spectators and participants on a good weekend.

Follow the jump for the rest of the story and a few pics from the final Crystal Cove meet.

Related posts:

Continue reading Ford saves Crystal Cove meet

Ford saves Crystal Cove meet originally appeared on Autoblog on Mon, 16 Oct 2006 18:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CaliforniaFerrariFreeman ThomasFreemanThomasJohn ClinardJohnClinardOCOrange CountyOrangeCountyPAGPremier Auto GroupPremierAutoGroupMon, 16 Oct 2006 18:28:00 EST<![CDATA[Ford says Jag, Volvo and Land Rover aren't for sale]]>http://www.autoblog.com/2006/09/29/ford-says-jag-volvo-and-land-rover-arent-for-sale/http://www.autoblog.com/2006/09/29/ford-says-jag-volvo-and-land-rover-arent-for-sale/http://www.autoblog.com/2006/09/29/ford-says-jag-volvo-and-land-rover-arent-for-sale/#commentsFiled under: , , , ,




Although Ford has recently confirmed that Aston Martin is up for sale, they made a point of saying today that the rest of its premium brands, are not. Jaguar, Land Rover and Volvo are not part of the fire sale at Ford just yet. With the new, almost-as-sexy-as-an-Aston XK coupes and convertibles starting to find their way into dealerships, Jaguar in particular is looking good for the time being, despite being one of the biggest financial thorns in Ford's side.

Ford's announcement was made to financial analysts by Lewis Booth, head of Ford of Europe and the Premier Automotive Group (PAG), which oversees the overseas Ford brands. Of course, this could all change in the next hour or two as executives are usually fluent in doublespeak. Although PAG is expected to post another loss in 2006, there are some signs of improvement heading into 2007, according to Ford. As we have had to report ad nauseum, Ford recently put the pedal to the metal in its cost-cutting plans, announcing drastic cuts (more than 40,000 jobs going away) and the closing of as many as 16 plants in North America to help get them back in the black by 2009.

[Source: Motor Trend]

Related posts:

Ford says Jag, Volvo and Land Rover aren't for sale originally appeared on Autoblog on Fri, 29 Sep 2006 07:08:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Lewis BoothLewisBoothPAGPremier Automotive GroupPremierAutomotiveGroupFri, 29 Sep 2006 07:08:00 EST<![CDATA[Volvo's profitablity waning]]>http://www.autoblog.com/2006/07/31/volvos-profitablity-waning/http://www.autoblog.com/2006/07/31/volvos-profitablity-waning/http://www.autoblog.com/2006/07/31/volvos-profitablity-waning/#commentsFiled under: , ,



In Ford's Premier Auto Group (PAG) one manufacturer has stood alone, sustaining a high degree of prosperity in the past. However, in the last two years, Volvo has seen a decline in its new vehicle sales and judging by figures from the first half of 2006, those numbers seem to be dwindling even more.

As far as dollars and cents are concerned, PAG condenses all of its manufacturers' earnings into one lump, so the ability to parse out who is losing what is a task reserved for only the geekiest of accounting wizards. What we do know is that PAG, as a whole, had broken even last year, while the second quarter of 2006 shows a loss of $162 million. Not massive, but worrisome.

Analysts are pointing to a number of factors leading to Volvo's decline and at the forefront of those issues is an aging product line. Thankfully, Volvo is addressing this issue head-on, granting the S80 with a thoughtful redesign, as well as bringing the new C70 into the marketplace. The entrance of the C30 hatchback, which fills a niche previously untouched by the Swedish manufacturer, may give Volvo the added boost it needs, especially if it is well received here in the States in 2008.

[Source: Automotive News - sub required]

Volvo's profitablity waning originally appeared on Autoblog on Mon, 31 Jul 2006 17:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>c30c70fordpagpremier auto groupPremierAutoGroups80volvoMon, 31 Jul 2006 17:01:00 EST