Ford - everything must go?

Ford is chucking those luxury brands out the back of the corporate stagecoach faster than pioneers being pursued by native Americans. Following the disposal of Aston Martin earlier in the year, latest to go in the fire sale are its two British upmarket brands Land Rover and Jaguar. The juicy mandate has been given to Goldman Sachs, Morgan Stanley and HSBC to get the best deal for the noble Brit metal bashers.

by
Last Updated: 31 Aug 2010

Ford was reported to have endured losses of $12.7bn last year. Its Premier Automotive Group, which owns Jaguar and Land Rover, this year saw its losses widen to $327m from $89m the year before. Jaguar is thought to have been responsible for a large part of this loss, as it fights to offload its ever-so-slightly racy, pipe 'n' slippers image.

Speculation about bids from Fiat and Renault have been denied by the respective companies. Suggestions that private-equity group Alchemy Partners are interested were also denied by its spokeswoman, who claimed their interest was only ‘on an emotional level'. What is motoring about these days if not emotion? And we bet losing $12.7bn in a year makes you feel a bit emotional, as well.

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Subscribe

Get your essential reading delivered. Subscribe to Management Today