Cars and Drivers
Ford (F) Sale Of Jaguar And Rover Does Nothing For Company
Published:
It now appears imminent. Ford (NYSE: F) will sell its Jaguar and Rover brands to India’s Tata Motors. According to the FT, "The sale is expected to have a price tag of about $2bn and will include a pledge by Ford to contribute to the two brands’ pension fund, and by Tata to continue buying engines from Ford."
The deal is a side-show and it does almost nothing for Ford. The company’s shares are under $6, down from over $17 in early 2004. The firm’s North American operations continue to lose money. Domestic market share is off to 15% and will probably fall this year.
Auto sales in the US are being revised down to 14.95 million by JD Powers. In 2007, that number was 16.1 million.
Ford may want to see if Tata would buy the entire company.
Douglas A. McIntyre
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