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Discussion in 'F1' started by 355BOY, Sep 17, 2004.
Going across reuters news as I sit at my desk
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Yes but the team change again his name. It would be Ford as in the past.
can't find the news item.
the rumor was that ford was going to take it over - true? or are they just flat-out out?
Ford are making big redundancies today at the Jaguar plants in Coventry UK, it all must be tied in to the same cost cutting excercise
here it ishttp://news.bbc.co.uk/sport1/hi/motorsport/3665810.stm
well coulthard will be disapoointed.
so will bernie.....wonder if he lets the remaining teams run 3 cars?
They are also looking at there Rally team, one driver has already been released !
Just to expand my thoughts, I know its all about "Branding" these days but to me Jaguar was all about sports and saloon car racing, never F1, it just did not sit right with me. I think Ford made a big mistake over this and should have pushed Jaguar into LeMans series.
Ford could have put there name on the F1 car !
Jaguar quits Formula One
Jaguar is pulling its team out of Formula One at the end of this season.
The company made the announcement on Friday as part of a major shake-up by parent company Ford.
Jaguar chairman Joe Greenwell said: "Ford has decided it can no longer make a compelling business case for any of its brands to compete in F1."
Reports suggest Tony Purnell, head of Ford's premier performance division, is putting together a bid to buy Jaguar's Formula One operation.
Jaguar's F1 businesses are now up for sale, and the future of the Ford rally team remains uncertain despite their decent performances in this year's WRC.
Greenwell added: "Having reached this decision our focus has turned to securing the best future for our F1 businesses and our employees in these businesses going forward.
"Jaguar's presence in Formula One has been a valuable marketing and brand awareness platform particularly outside our main markets of the US and the UK.
"However it was our collective view that it is time for Jaguar Cars to focus 100% on our core business."
From BBC News:
Jobs go at Jaguar plant
Jaguar's announcement came as Ford confirmed it was ending production at its Jaguar plant in Coventry, with the loss of around 1,000 jobs.
Jaguar entered Formula One in 2000 after Ford took over the Stewart team founded by three-times world champion Jackie Stewart in 1997.
They have had a turbulent four seasons, yet to win a grand prix and going through numerous changes of leadership since Stewart stood down as the first team principal before the start of the 2000 season.
Jaguar are currently a lowly seventh in the constructors' championship with 10 points.
The team's lead driver, Australian Mark Webber, will join Williams next season in a deal announced in July
they are putting the team up for sale, they need to cut costs, if it was not for their financing arm, ford would be much worse, though people say the financing arm is just delaying the enivitable
well, if that isn't unequivocal, i don't know what is.
With Ford no longer subsidising Cosworth, Minardi and Jordan may no longer have an engine supplier which could ultimately flush them out too.
just read it on the web, cant beleive it
watch sir jackie buy it back for $1
I think it's sad for any team to quit F1. Hopefully whoever buys them will make them more competitive in the future.
This is a sad day. Looks like the top guys at Ford are going to bow out to Ferrari dominance and a lack of willingness on the part of Eccelstone to make the sport lucrative for all teams.
Does Ecclestone care?
Trust me - Bernie cares! This is big news. F1 need to wave their stupid $48 million entry bond for new teams, and allow new teams to buy old chassis for their first three years of existence. Minardi & Jordan have been on the brink of closing their doors for years now. This could have big repercussions, even if a new buyer is found quickly......
Strike One.....and if the banks win the lawsuit over F1 Board control: Strike Two..........and if....
I think the Bell just tolled for the Concorde Agreement.
I think it's great!!! Jaguar has never won a race. That's got to hurt their brand more than help. Exposure is good if you're winning. It's probably really bad if you are getting your ass kicked.
So many of you complain that F1 is boring yet change comes around and you complain about that too. You need to learn to embrace change. I think this will lead to new and better things for F1.
I'm really surprised more teams don't bow out. I love F1 but I think it's biggest problem is that there are too many people trying to control the inner workings of the sport. Makes it cost ineffective for companies to be involved. Kinda like Communism!!
Bad news also for Swedish Jaguar testdriver, Björn Wirdheim who was hoping for a position as driver after Mark Webber...
Ford wanted Jaguar to be in F1 because BMW and Mercedes were there but it was always handled as a small team (i.e. taking pay drivers like Klien). There was never a real commitment from Detroit. Now Ford wants to get rid of Cosworth and could potentially leave Minardi and Jordan with out an engine deal for 2005.
All these cost cuttings are due to poor sales of their cars for the most part. And, why the poor sales? It's because their not staying ahead of things with innovative designs that people aspire to. They seem to be trying to ride off the name. Argueably their best designed car was the E-type and that thing dates back to the 60's. If they don't get on the ball they will just keep sliding backwards. JMO.
Let them? The concorde agreement says that grids HAVE to be a minimum of 20 cars. They're going to have to pony up another few chassis, especially if Jordan and Minardi go to the wall too.
Jaguar Cars today announced details of a comprehensive business plan that will reshape the company and focus on the factors that have had a negative impact on the bottom line of the company.
*The plan includes:*
Product actions, including an all-aluminium XK sports car; strengthening of the XJ range with a premium diesel engine saloon in Europe and a new long wheelbase version in the US, a new high-performance X-TYPE diesel in Europe and an X-TYPE estate to be launched in the US.
Marketplace actions, including a review of Jaguar's retail and market infrastructure throughout the world, and revenue management steps that include a reduction in daily rental units and revised series and model actions.
Cost actions, including the discontinuation of assembly operations at Browns Lane; the transfer of 425 jobs to Castle Bromwich, including generous terms for 400 voluntary separations at Browns Lane; and a reduction of 750 staff and agency positions.* In addition, the Jaguar brand will withdraw from Formula One at the end of 2004.
Coventry, Jaguar headquarters and the wood veneer manufacturing centre will remain at Browns Lane and the Jaguar Product Development Centre will remain at Whitley, both in Coventry.
The company said these short- and longer-term actions focus on Jaguar's immediate marketplace challenges and address the fundamental structure of the business and its future strategy.* They will act as Jaguars foundation for the remainder of the decade.
Key elements of the plan:
·******** New all-aluminium XK sports car
Confirmation of a new XK sports car codenamed X150 that will go on sale in early 2006. This will be an all-aluminium car and will be the first production car to feature Jaguars new design language, developed by Design Director Ian Callum.*
·******** XJ range significantly strengthened
The XJ range will be extended and strengthened by introducing a premium diesel engine next year to respond to growth in luxury diesel saloons in Europe and further enhance the customer appeal of a car which is already segment leader in the UK. The new long wheelbase version of the XJ, which is targeted at the US market, has received very strong reviews having just gone on sale.***
·******** New high performance X-TYPE diesel
The market appeal of the X-TYPE compact luxury car will be extended by adding a high performance diesel version to the existing range of diesel and petrol-engined variants next year.***
·******** X-TYPE Estate to be launched in the US
X-TYPE Estate (Station Wagon) will be launched in the United States to broaden the X-TYPE range in this key market.
·******** Supply and demand balanced
We have announced a 15,000-unit reduction of production in 2004 to better align stock with on-going demand.***
·******** Market strategy and distribution
We are reviewing our retail and market infrastructure in markets around the world to improve both dealer and market profitability. A new board-level position was recently created to specifically drive this programme with the appointment of Mike Wright, former managing director of Jaguar, to the new role.* We will find the optimum solution for each market for Jaguar, Land Rover and Premier Automotive Group.***
·******** Revenue management, Brand and marketing
We are implementing enhanced revenue management actions including reduced mix of daily rental volumes and revised series and model actions. Jaguar will refocus marketing actions on the unique brand position of its vehicles as beautiful fast cars.*
Well Jean Todt recently (last week I think) said if something isn't done soon that 3 teams will be in big trouble ( I am assuming Jag, Minardi, and Jordan). But the team owners (F.W. & R.D.) are too big headed to bring costs down. I hope Red Bull buys Jaguar and Toyota and MB offer a subsidized engine deal to keep Jordan and Minardi alive.