Ford (F) has hired Morgan Stanley and Goldman Sachs to sell its Range Rover and Jaguar brands. Jaguar has been losing money for some time. Both brands are part of the Ford Premier Automotive Group which, including all its brands, made a most profit last quarter.
Ford has clearly made the decision to focus on it North American operations and core businesses in Europe and South America. The company has raised substantial money, so selling the brands is probably not primarily a financial decision. But, fixing its domestic operations will require such a Herculean effort that jettisoning most other operations may be management’s only sensible choice.
Douglas A. McIntyre