Jaguar NOT for sale

Newswheel staff :: 14 December 2005 :: Filed under Ford, Jaguar, Europe & UK, US

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Ford keeps faith with battered British brand

So says Lewis Booth, head of Ford’s European business. Following widespread speculation that Ford was about to offload Jaguar on Renault via Carlos Ghosn, Booth told news agency Reuters, “there are no truths in those persistent rumors." So, that’s it. Case closed. Perhaps…

Ford bagged the big cat back in 1986 for $2.82 billion and has since buried billions more in the attempt to turn Jaguar into a modern, profitable car making outfit. Nearly 20 years later, it still hasn’t happened. As we recently reported, even head honcho Bill Ford admits, "we still have not figured out how to make the business equation yet for Jaguar a compelling one.” What’s more, in September Ford tore up its forecast that Jaguar would break even in 2007.

And yet Ford remains fully committed to Jaguar. Or so it claims. Let’s be honest. If Ford was considering dumping Jaguar, it’s unlikely it would publicise the fact. And should such a plan exist, it’s entirely plausible that a local chieftain like Mr Booth could be unaware of it. So, there’s no smoke without fire and all rumours eventually become true. Choose your cliché, but we suspect we’ve not heard the last of this story. 

Linkage:
Reuters