Ford looking to sell Jaguar and Land Rover (Chrysler Owner now interested ? )
06-11-07, 08:58 AM
#1
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Ford looking to sell Jaguar and Land Rover (Chrysler Owner now interested ? )
Ford looking to sell Jaguar and Land Rover
June 11th, 2007
After the sale of Aston Martin, many analysts have been wondering what company Ford will sell next in order to recover from its $12.5 billion loss in 2006 and continuous slow sales. Well, according to Automotive News, Ford is now actively seeking buyers for Volvo, Jaguar and Land Rover.
Back in May, it was reported that Ford was talking to BMW for a potential sale of its Volvo group. The report was later denied by Ford itself.
Current reports say that Ford was in talks with Fiat over a possible sale of Jaguar and Land Rover. The talks which started in February, ended late last month due to Fiat’s concern over its credit rating.
Sources now say that Ford has officially hired Goldman Sachs and Morgan Stanley to take the three premium companies off of its hands for cash payment.
Merrill Lynch analysts have previously said that Ford could possibly raise over $9 billion by selling its remaining luxury car brands.
Source: Automotive News
June 11th, 2007
After the sale of Aston Martin, many analysts have been wondering what company Ford will sell next in order to recover from its $12.5 billion loss in 2006 and continuous slow sales. Well, according to Automotive News, Ford is now actively seeking buyers for Volvo, Jaguar and Land Rover.
Back in May, it was reported that Ford was talking to BMW for a potential sale of its Volvo group. The report was later denied by Ford itself.
Current reports say that Ford was in talks with Fiat over a possible sale of Jaguar and Land Rover. The talks which started in February, ended late last month due to Fiat’s concern over its credit rating.
Sources now say that Ford has officially hired Goldman Sachs and Morgan Stanley to take the three premium companies off of its hands for cash payment.
Merrill Lynch analysts have previously said that Ford could possibly raise over $9 billion by selling its remaining luxury car brands.
Source: Automotive News
06-11-07, 12:30 PM
#5
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how ironic is this that FIAT once a bad name in itself is concerned about it's own credit rating if it bought the hurting Jaguar brand.
The talks which started in February, ended late last month due to Fiat’s concern over its credit rating.
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06-11-07, 02:01 PM
#8
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I think it would be a perfect buyout. Especially since both have the same recent roots. Jag is not an unsalvageable brand. There is a lot of things about them I like and a very few I do not like. The price would likely go up if Aston bought them, but the quality would also.
I'd love to see the old school companies return to their glory. Mercedes has already made the step forward in quality control and parts sourcing as of the last 2 or so yrs and this would be another huge return if Jag did.
I'd love to see the old school companies return to their glory. Mercedes has already made the step forward in quality control and parts sourcing as of the last 2 or so yrs and this would be another huge return if Jag did.
06-12-07, 05:52 AM
#11
Lexus Fanatic
I can see Ford getting rid of Aston Martin, a company with extremely low production and sales. Though we sometimes talk about them here on CAR CHAT, I've never known anyone, personally, who has ever actually bought or leased one, nor have I ever gone to an Aston dealer with someone who is actually seriously looking at one. The company, from what I can tell, is an unnecessary drag on Ford.
Land Rover: OK, maybe....maybe not. Their vehicles are pricey, have a lot of reliability problems, and have little popularity outside of the Country-Club set, though occasionally you will see rich soccer-moms driving them. But they are awesome in true off-road conditions, with the sure-footedness of a mountain goat, and they combine good off-road manners with good ON-road manners.....something few SUV's can do outside of the Range Rover, VW Touraeg, and Lexus LX470. Still, ilike so many other things in buisness, it may come down to a question of money...Land Rover, as a company, is not very profitable due to its limited sales appeal and low sales.
Jag? I'd really be sorry to see Ford dump them. Though it has dropped recently, not only did Jag's overall quality level go up in the 1990's under Ford ownership, but, for the first time in decades, there were AFFORDABLE Jags. I was not a big fan of the X-Class despite its standard AWD, but the S-Class was a NICE car, and didn't cost $80,000 like its larger XJ brother did. (too bad a door handle fell right off the one I first test-drove
). Ford was also able to do a Lincoln version of it...the LS, a car I also liked, though the Jag, IMO, was noticeably superior in styling, class, and hardware.
Well, anyhow, this is not a car review, so back to topic...selling Jaguar. I personally would not like to see that happen. Jaguar is generally more profitable than Land Rover, has a larger potential customer base, has a better, though not much better, reliability record overall, and from what I can see, has not as much of a drain on Ford that Land Rover and Aston-Martin have been.
Land Rover: OK, maybe....maybe not. Their vehicles are pricey, have a lot of reliability problems, and have little popularity outside of the Country-Club set, though occasionally you will see rich soccer-moms driving them. But they are awesome in true off-road conditions, with the sure-footedness of a mountain goat, and they combine good off-road manners with good ON-road manners.....something few SUV's can do outside of the Range Rover, VW Touraeg, and Lexus LX470. Still, ilike so many other things in buisness, it may come down to a question of money...Land Rover, as a company, is not very profitable due to its limited sales appeal and low sales.
Jag? I'd really be sorry to see Ford dump them. Though it has dropped recently, not only did Jag's overall quality level go up in the 1990's under Ford ownership, but, for the first time in decades, there were AFFORDABLE Jags. I was not a big fan of the X-Class despite its standard AWD, but the S-Class was a NICE car, and didn't cost $80,000 like its larger XJ brother did. (too bad a door handle fell right off the one I first test-drove
). Ford was also able to do a Lincoln version of it...the LS, a car I also liked, though the Jag, IMO, was noticeably superior in styling, class, and hardware.Well, anyhow, this is not a car review, so back to topic...selling Jaguar. I personally would not like to see that happen. Jaguar is generally more profitable than Land Rover, has a larger potential customer base, has a better, though not much better, reliability record overall, and from what I can see, has not as much of a drain on Ford that Land Rover and Aston-Martin have been.
Last edited by mmarshall; 06-12-07 at 06:05 AM.
06-12-07, 06:49 AM
#12
I can see Ford getting rid of Aston Martin, a company with extremely low production and sales. Though we sometimes talk about them here on CAR CHAT, I've never known anyone, personally, who has ever actually bought or leased one, nor have I ever gone to an Aston dealer with someone who is actually seriously looking at one. The company, from what I can tell, is an unnecessary drag on Ford.
read the first line in the article?
As for Jaguar and Rover they need a miracle to survive.
06-12-07, 07:11 AM
#13
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UK Govt. contacts Ford about possible sale of Jaguar and Land Rover
Posted on Tuesday 12 June 2007
The UK government has contacted Ford because of concerns over the possible sale of the Jaguar and Land Rover brands. “We are in touch with the company. We still believe both Land Rover and Jaguar are highly successful companies and will have a highly successful future,” a spokesman for Tony Blair told reporters from Reuters.
It was revealed yesterday that Ford has hired investment banks Goldman Sachs and Morgan Stanley to oversee the sale of the Jaguar, Land Rover and Volvo and had even conducted with talks with Fiat Group.
A union official has also expressed concerns about the sale that could potentially affect up to 10,000 employees at Jaguar and 9,000 staff at Land Rover. According to reports from the BBC, Ford is hoping to sell some assets in order to offset lagging sales and financial losses, and could even make an announcement within the next couple of days.
Business editor at the BBC Robert Peston has also mentioned that Ford is looking at all options, which may or may not include a sale, and has received strong interest from several equity groups.
The UK government has contacted Ford because of concerns over the possible sale of the Jaguar and Land Rover brands. “We are in touch with the company. We still believe both Land Rover and Jaguar are highly successful companies and will have a highly successful future,” a spokesman for Tony Blair told reporters from Reuters.
It was revealed yesterday that Ford has hired investment banks Goldman Sachs and Morgan Stanley to oversee the sale of the Jaguar, Land Rover and Volvo and had even conducted with talks with Fiat Group.
A union official has also expressed concerns about the sale that could potentially affect up to 10,000 employees at Jaguar and 9,000 staff at Land Rover. According to reports from the BBC, Ford is hoping to sell some assets in order to offset lagging sales and financial losses, and could even make an announcement within the next couple of days.
Business editor at the BBC Robert Peston has also mentioned that Ford is looking at all options, which may or may not include a sale, and has received strong interest from several equity groups.
06-12-07, 01:28 PM
#14
Lexus Fanatic
06-14-07, 02:52 PM
#15
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Chrysler owner shows interest in Jaguar and Land Rover bid
June 14th, 2007
As reported earlier this week, and confirmed by Ford, Ford has officially hired Goldman Sachs and Morgan Stanley to sell its Jaguar and Land Rover brand. Now, according to German newspaper Frankfurter Allgemeine Zeitung, Cerberus, who recently bought Chrysler, is showing interest in Jaguar and Ford.
Citing London bank sources, the newspaper said that Cerberus, Blackstone and Cinven have shown interest in joining the auction for Ford’s luxury car brands.
It is not clear yet whether both brands will be sold as a package deal but an industry source has told Automotive News that Ford is favoring a package solution though it won’t mind selling the two brands separately.
Merrill Lynch analysts have previously said that Ford could possibly raise over $9 billion by selling its remaining luxury car brands.
Source: Automotive News (Subscription Required)
As reported earlier this week, and confirmed by Ford, Ford has officially hired Goldman Sachs and Morgan Stanley to sell its Jaguar and Land Rover brand. Now, according to German newspaper Frankfurter Allgemeine Zeitung, Cerberus, who recently bought Chrysler, is showing interest in Jaguar and Ford.
Citing London bank sources, the newspaper said that Cerberus, Blackstone and Cinven have shown interest in joining the auction for Ford’s luxury car brands.
It is not clear yet whether both brands will be sold as a package deal but an industry source has told Automotive News that Ford is favoring a package solution though it won’t mind selling the two brands separately.
Merrill Lynch analysts have previously said that Ford could possibly raise over $9 billion by selling its remaining luxury car brands.
Source: Automotive News (Subscription Required)
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