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Ford may look to sell Aston Martin before Jaguar

Discussion in 'British' started by tfazio, Aug 31, 2006.

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  1. tfazio

    tfazio Formula 3
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    #1 tfazio, Aug 31, 2006
    article taken from the freep.com / author is associated press

    Ford considers selling Aston Martin

    August 31, 2006

    Ford Motor Co. said Thursday it has begun the process of exploring a possible sale of all or part of its Aston Martin luxury brand as the company works to speed up its
    North American turnaround.

    “As part of our ongoing strategic review, we have determined that Aston Martin may be an attractive opportunity to raise capital and generate value,” Bill Ford, the automaker’s chairman and chief executive, said in a statement.

    He said the Aston Martin’s dealer network, design and size are different from other Ford brands and the most logical choice for possible sale. He said no decisions have been made about its other Premier Automotive Group brands.

    “We continue to be encouraged by Jaguar’s progress and by the strength and consumer appeal of the Jaguar, Land Rover and Volvo product lineups” he said.

    In July, Ford pledged to speed up and possibly deepen its North American turnaround plan.

    Dearborn-based Ford’s “Way Forward” plan, launched in January, calls for shedding 25,000 to 30,000 jobs and closing 14 plants by 2012 to help return Ford’s North American automotive operations to profitability.
     
  2. rollsorferrari?

    rollsorferrari? F1 Veteran

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    #2 rollsorferrari?, Aug 31, 2006
    no decisions about it's other premier brands? Aston-Martin is Ford's premier brand, but if they sell it, I'd be interested in seeing who buys it
     
  3. Bill Sawyer

    Bill Sawyer Formula 3

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    #3 Bill Sawyer, Aug 31, 2006
    I think they should spin off PAG as its own auto company. Do an IPO to raise money and let it fly on its own.
     
  4. Doody

    Doody F1 Veteran

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    #4 Doody, Aug 31, 2006
    i would assume that if it could fly on its own they wouldn't be selling it off :)

    doody.
     
  5. b-mak

    b-mak F1 Veteran

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    #5 b-mak, Aug 31, 2006
    Whats-his-name-MidlandF1-owner is going to buy it and run it into the ground.
     
  6. Webby

    Webby F1 Veteran

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    #6 Webby, Aug 31, 2006
    I thought Aston martin was doing better than Jaguar? Why would they sell the one that's making them profit. I'm sure there are people out there that would buy Jaguar
     
  7. lotustt

    lotustt Formula 3

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    #7 lotustt, Aug 31, 2006
    BEcause its making money, therefore has more value and a higher selling point.
     
  8. Dino Martini

    Dino Martini F1 Rookie

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    #8 Dino Martini, Aug 31, 2006
    Who are the possible buyers? I just hope that Hyundai or someone like that dont come up with the cash to buy. Toyota buying Aston would be kind of cool..not that it will happen.
     
  9. F1Ace

    F1Ace F1 Rookie

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    #9 F1Ace, Aug 31, 2006
    Best thing I've read all week!

    I like the direction Jaguar's going now, and I for one hope they do a reskin on the XJ8 soon. That should bring the brand back to profitability if it isn't already. Then all kinds of options are open.

    Anyone have an idea if Jaguar is losing money these days now that the racing program is over?
     
  10. Rachane

    Rachane Formula 3

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    #10 Rachane, Aug 31, 2006
  11. johnei

    johnei Formula 3
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    #11 johnei, Aug 31, 2006
    Apparently both LVMH and Richemont have already expressed interest in purchasing Aston Martin.
     
  12. Rifledriver

    Rifledriver Three Time F1 World Champ

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    #12 Rifledriver, Aug 31, 2006
    Industry analysts say the sale of PAG will not even dent the money Ford needs right now.


    Maybe they should rethink the whole thing?

    Sell Ford and keep PAG, afterall it's Ford that is broken.
     
  13. Crallscars

    Crallscars F1 Rookie

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    #13 Crallscars, Aug 31, 2006
    Sell Volvo, Ford dosen't desurve their bad reputation.
    I had one.....not the worst car I ever owned, it was worse than every car I ever owned. It lived in the shop with warranty work for the first 3 years, then the warranty was over and I had to pay to fix their design & engineering mistakes.
    Some bright engineer at Volvo decided to reduce recripicating mass in the engine, and made every front engine car a gernade with a loose pin. I have had a dozen friends loose their crappy engines and transmissions. The rod that came out of the my engine went through both sides enough times that you could reach your arm through the block. And the trans that fell apart...well rather not relive that either.

    Volvo's aditude was........you can buy another...when my lease was up
    I bought a used 30 year old Studebaker Avanti, it never stranded me and the Volvo looked naked with out a tow truck dragging it off to the dealer

    Doug
     
  14. Bullfighter

    Bullfighter Two Time F1 World Champ
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    #14 Bullfighter, Aug 31, 2006
    I read that a British construction company, JCB, was interested in buying Jaguar. Frankly, after the X-Type wagon, I think Jag needs to be rescued from the geniuses in Dearborn.

    Not sure how selling A-M would change anything. How many cars do they sell? I'd guess they're like Lamborghini was to Chrysler: a cool but useless name to own.

    The Way Forward feels a lot like The Way Smaller... other than cutting costs, I don't see much of a turnaround plan.
     
  15. Bill Sawyer

    Bill Sawyer Formula 3

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    #15 Bill Sawyer, Aug 31, 2006

    Every site has a realist to screw things up! :)
     

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