Beleaguered carmaker Ford Motors is selling its high-end Jaguar and Land Rover brands. And there were some reports that came out last Tuesday (Mar. 25) that a deal with Tata Motors of India was already signed and on the table.
Last year, Ford's financial statements have shown significant improvement as it posted a US$2.7-billion loss from a record loss of US$12.6-biilion in 2006. yet despite of this development, still the US-based carmaker is desperate to get back on track. It is dishing off its two luxury brands for only about US$2-billion -- an amount less than half amount it paid for acquiring the said brands about seven to eight years ago.
As for Tata Motors, it considers Land Rover as a viable addition to its portfolio for its sees the brand having a good prospect to profit more from the heavier end of the industry. However, the Indian carmaker finds the Jaguar marque as an unusual fit given its luxury background. But according to a company insider, Tata Motors will acquire Jaguar anyway since it is included in the package.
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