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Demise of another American premier brand

Discussion in 'Other Cars' started by C.RICKEY HIROSE, Mar 25, 2008.

  1. C.RICKEY HIROSE

    C.RICKEY HIROSE Member

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    Demise of another American Owned premier brand

    Ford gets rid of its much clamored premier brand.
    Tata motor of India gets its trophy brands.. for 2.6 Billion.
    America is not the Power of the World anymore?

    http://www.autocar.co.uk

    The sale of Jaguar and Land Rover has been completed following the finalization of a complicated deal between Ford and India’s Tata Motors.

    The Indian conglomerate has borrowed $2.3 billion to buy the two brands, but maintains that it will not move production of Jaguars or Land Rovers to India, and will respect the brands’ British heritage.
    Tata chairman Ratan Tata confirmed his company will stick to the five-year investment plan for the UK factories in Halewood, Solihull and Castle Bromwich. Announcing the deal, he said:
    “We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business. We have enormous respect for the two brands and will endeavor to preserve and build on their heritage and competitiveness, keeping their identities intact. We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business.â€
    Union worries about job losses have been partially allayed by the five-year promise and assurances that Tata will continue to use Ford-supplied engines. Many of Jaguar and Land Rover’s engines are made in Ford’s Dagenham and Bridgend factories in the UK. Ford will also transfer $600 million to the Jaguar and Land Rover pension fund.
    [​IMG]​
    Ford’s Executive Vice President, Lewis Booth, told Autocar that Ford will help Tata to integrate green technology into the Jaguar and Land Rover ranges, and also that the engine supply arrangement is a long-term deal, saying that “Tata is really committed to the business and really committed to Britain.â€
    Booth also confirmed that Ford is not maintaining any stake in Jaguar / Land Rover, in contrast to the 15-percent holding it maintained in Aston Martin when it sold the company last year.
    Jaguar Land Rover CEO, Geoff Polites, welcomed the formal announcement of the deal by saying: “Jaguar Land Rover’s management team is very pleased that Ford and Tata Motors have come to an agreement today. Our team has been consulted extensively on the deal content and feels confident that it provides for the business needs of both our brands going forward.â€
     
    #1 C.RICKEY HIROSE, Mar 25, 2008
  2. Bill Merchant

    Bill Merchant absit invidia

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    What in the world are you talking about? What does a link to a Hilco Industrial site selling Rubber Extrusion, Injection Moulding & Ancillary Equipment formerly used in the production of Automotive Components have to do with Ford, Tata, or America as the Power of the World?
     
    #2 Bill Merchant, Mar 26, 2008
  3. Godiva

    Godiva AmeriKan Citizen

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    All I can find is that Hilco managed a Ford Motor Company Cafeteria auction selling ovens, fryers and other commercial kitchen equipment from March 5 through March 12 so I also say....huh?
     
    #3 Godiva, Mar 26, 2008
  4. Trollbait

    Trollbait It's a D&D thing

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    Maybe this.
    Report: Tata Wins Jaguar, Land Rover

    I don't think of Jaguar and Land Rover as American. Yeah, Ford owned them, but Range Rovers aren't rebadged Explorers. Besides, it isn't a demise if they are being sold. From the title, I was expected it to be news of the closing of Mercury
     
    #4 Trollbait, Mar 27, 2008
  5. daniel

    daniel Cat Lovers Against the Bomb

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    This is amusing: Ford owned two British car companies for a while, and selling them now is supposed to be the "Demise of another American premier brand"???

    It's appropriate, however, that Ford (Fix Or Repair Daily) owned Jaguar, noted for spending more time in the shop than on the road. I don't know whether Land Rovers are considered reliable or not. I do know that if I ever (FSM forbid!) needed that kind of vehicle, I'd buy the Toyota version, not the British/Ford/Tata version.
     
    #5 daniel, Mar 27, 2008
  6. Flying White Dutchman

    Flying White Dutchman Senior Member

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    maybe because in 2006 Ford made a loss off 12,6 miljard dollar loss and in 2007 still 2.7 dollar

    the euro part of ford is making profit and the us part is making a lot off losses

    and when you look then only the F150 is OK the rest.... old ugly and.....
    the ford fiesta is going to come to the us
    i hope people like it!
    [​IMG]

    in 1989 ford payed for jaguar 2,7 miljard dollar
    and in 2000 for land rover about the same.

    now in 2008 ford sells both of them for 2,3 miljard dollars

    thats a BIG loss...
     
    #6 Flying White Dutchman, Mar 27, 2008
  7. Flying White Dutchman

    Flying White Dutchman Senior Member

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    [​IMG]
     
    #7 Flying White Dutchman, Mar 27, 2008
  8. daniel

    daniel Cat Lovers Against the Bomb

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    What's a miljard?
     
    #8 daniel, Mar 28, 2008
  9. Flying White Dutchman

    Flying White Dutchman Senior Member

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    o sorry

    billion ( i think )
     
    #9 Flying White Dutchman, Mar 28, 2008
  10. daniel

    daniel Cat Lovers Against the Bomb

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    Just to be clear:

    Number; U.S. name; British name:

    1,000,000; million; million

    1,000,000,000; billion; thousand million

    1,000,000,000,000; trillion; billion
     
    #10 daniel, Mar 28, 2008
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