Thread: end of september,,,,

Ford to Jag and Land Rover: Don't let the door hit you on the way out!

Posted Sep 13th 2007 3:05PM by Sam Abuelsamid
Filed under: Sedans/Saloons, Sports/GTs, SUVs, Euro, Ford, Jaguar, Land Rover


Ford is working hard to unload Jaguar and Land Rover, and unlike Aston Martin deal, the Oval wants to be completely out. While Ford kept a small stake in Aston just like Daimler did with Chrysler, whoever buys the other two British brands will have to take everything.

Ford's European boss, Lewis Booth, spoke in Frankfurt this week and told reporters that the company wants final bids by the end of September and the deal closed by the end of the year. According to Booth, Ford needs the cash and wants to rid itself of distractions from its core businesses. Evidently, it feels that keeping a stake might be no better than keeping the whole thing, and it would still ultimately be responsible for what happens to the two companies.

[Source: Detroit News]

I've got to say... I know this is not a new thing... but this could mean quite bad news. My warranty runs out next year so I can't guess it could impact me too much but I'd be waiting to see who bought the company before buying a new car at the moment.