LONDON, England (AP) – Ford says it is reviewing its
position on Jaguar and Land Rover, while union officials are
pressing for more information amid reports that the two
brands are up for sale.
John Gardiner, a spokesman for Ford’s Premier Automotive
Group, said Tuesday Ford had been reviewing all of its
operations for a year.
‘‘We are working with our financial advisers on the best
options for Jaguar and Land Rover, and nothing is ruled
out,’’ Gardiner said. He added that there was no time frame
for making a decision.
Prime Minister Tony Blair’s office said it was in touch with
Ford about the review.
‘‘We still believe that both Land Rover and Jaguar are highly
successful companies and will have a highly successful
future,’’ said the prime minister’s official spokesman said.
British lawmaker Lorely Burt, who represents Solihull, home
to Land Rover’s assembly plant, said legislators were told
Monday night that Ford was ‘‘looking at all the options which
may or may not include a sale.’’
‘‘We are very concerned to hear these reports and we are
seeking an urgent meeting with Jaguar/Land Rover,’’ said Dave
Osborne, national officer of the Unite union.
‘‘We find it difficult to understand why Ford would want to
sell a successful, growing and environmentally improving
brand like Land Rover, and a marque like Jaguar, which is a
significant player in the luxury market and one that Ford
has invested heavily in.’’
Land Rover and Jaguar are part of Ford’s Premier Auto Group,
which also includes Volvo. Ford sold Aston Martin, another
part of the group, for $848 million in March, with some
analysts saying the luxury brand did not fit into Ford’s
long-term survival plan for cost savings from developing
multiple models worldwide on the same underpinnings.
Ford, which is struggling to be profitable in the face of
fierce competition from Asian automakers, posted a sharply
narrower first-quarter net loss in April of $282 million.
The Premier Automotive Group reported a record pretax profit
of $402 million for the quarter due largely to Volvo.
Ford bought Jaguar in 1989 and Land Rover in 2000. The two
business have about 19,000 employees in Britain.
Geoffrey Robinson, a legislator representing Jaguar’s base
in Coventry, said speculation about a sale was ‘‘was not news
in the sense that … it was announced some time ago that
they would be looking to do this.’’
‘‘It seems to have moved on a whole gear now that they do
have certain groups earmarked who might go forward and make
specific bids,’’ Robinson told BBC radio.
‘‘Ford have got some huge problems on their own, really huge
facing survival really on their hands. They actually don’t
have the management capability, never really had it, to make
a success of Jaguar. And Jaguar could potentially be a great
success story, as could Land Rover,’’ said Robinson, who was
chief executive of Jaguar Cars in 1974-75.
Copyright 2007 The Associated Press. All rights reserved.–
Two 1994 XJ12’s
Arlington, Virginia, United States
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