Ford says Tata to Jaguar and Land Rover March 26th, 2008
Ford has finally sold Jaguar and Land Rover to Tata in a deal worth £1.15bn. Land Rover has remained profitable throughout its ownership by Ford, however Jaguar has never made a positive return on investment. The proceeds amount to about half of what Ford paid for the marques, suggesting the purchase was not the best move Ford ever made. Ford will now focus on its currently loss-making business in the US.
As Jaguar and Land Rover employ around 16,000 people across Merseyside and the West Midlands, it is a relief that Tata does not envisage making significant changes to the way the businesses are run. However, if Ford couldn’t make sufficient profits it will be interesting to see how Tata will generate sufficient returns.
March 26th, 2008 at 2:50 pm
A sad and stupid alternative to improving a great brand. They will be missed names on the car market for sure. This is all too sad news.