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BREAKING NEWS!! JAGUAR PULL OUT OF F1

Discussion in 'F1' started by 355BOY, Sep 17, 2004.

  1. 355BOY

    355BOY Formula Junior

    Jan 28, 2004
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    Mark
    Going across reuters news as I sit at my desk

    Mark
     
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  3. djkn

    djkn Rookie

    Jul 28, 2004
    7
    Yes but the team change again his name. It would be Ford as in the past.
     
  4. Doody

    Doody F1 Veteran

    Nov 16, 2001
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    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?

    doody.
     
  5. 355BOY

    355BOY Formula Junior

    Jan 28, 2004
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    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

    Mark
     
  6. ross

    ross Three Time F1 World Champ
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    Mar 25, 2002
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    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?
     
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  8. Philjay50

    Philjay50 Formula Junior

    Jan 16, 2003
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    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 !
     
  9. 355BOY

    355BOY Formula Junior

    Jan 28, 2004
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    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
     
  10. tifosi

    tifosi F1 Veteran
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    Sep 5, 2001
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    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
     
  11. Doody

    Doody F1 Veteran

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    well, if that isn't unequivocal, i don't know what is.

    doody.
     
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  13. Prova85

    Prova85 Formula 3

    Nov 13, 2003
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    With Ford no longer subsidising Cosworth, Minardi and Jordan may no longer have an engine supplier which could ultimately flush them out too.

    Kenny K.
     
  14. stevep

    stevep F1 Veteran

    Jan 19, 2004
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    just read it on the web, cant beleive it
     
  15. ross

    ross Three Time F1 World Champ
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    watch sir jackie buy it back for $1 ;)
     
  16. Theo

    Theo Formula Junior

    May 6, 2002
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    I think it's sad for any team to quit F1. Hopefully whoever buys them will make them more competitive in the future.

    Theo
     
  17. imperial83

    imperial83 F1 Rookie
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    May 14, 2004
    2,892
    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.
     
  18. 355BOY

    355BOY Formula Junior

    Jan 28, 2004
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    Does Ecclestone care?
     
  19. Wolfgang5150

    Wolfgang5150 F1 Rookie

    Oct 31, 2003
    4,702
    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......
     
  20. Auraraptor

    Auraraptor F1 World Champ
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    Sep 25, 2002
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    MO
    Agreed.
     
  21. BigTex

    BigTex Seven Time F1 World Champ
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    Dec 6, 2002
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    Bubba
    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.
     
  22. Jason Crandall

    Jason Crandall F1 Veteran

    Mar 25, 2004
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    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!!
     
  23. millemiglia

    millemiglia Formula Junior

    Jan 14, 2003
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    Bad news also for Swedish Jaguar testdriver, Björn Wirdheim who was hoping for a position as driver after Mark Webber...

    /Peter
     
  24. fluque

    fluque Formula 3

    Jul 30, 2004
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    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.
     
  25. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    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.
     
  26. Dr JonboyG

    Dr JonboyG Karting

    Jul 26, 2004
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    Jonathan Gitlin
    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.
     
  27. writerguy

    writerguy F1 Veteran

    Sep 30, 2003
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    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 Jaguar’s foundation for the remainder of the decade.


    Key elements of the plan:




    Product:*


    ·******** 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 Jaguar’s 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.


    Market place:**


    ·******** 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.*
     
  28. Senna1994

    Senna1994 F1 World Champ

    Nov 11, 2003
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    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.
     

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