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.
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.
On slightly higher revenue, and with cost-cutting moves well underway, Ford Motor Co. posted a much smaller loss in Q1 of 2007 than for the same period in 2006. This year's net loss was a still-substantial $282 million, but compared with a loss of $1.4 billion last year, it seems like a drop in the bucket.
Did you get your bid in? Hope you didn't put it off to the last minute and let it slip by. After all, this IS one of the coolest car companies on the planet. Just think of yourself being able to say, "I liked the car so much, I bought the company!" And even better is the knowledge that it might not be losing as much money as you may have thought when you first considered your bid. The bidding for Aston Martin is just about to close and we will hopefully have the winning bidders name for you as s
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 t
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 of Europe Chairman Lewis Booth (pictured with
mischievous grin) was quoted Tuesday as confirming that Ford will be profitable in Europe in 2006, despite intense
price competition and high prices for raw materials.