Car Finance news: Ford may sell Jaguar

Thu, 03 Aug 2006



Jaguar, one of the foremost luxury car brands in the world, may be sold by its owner pending a review. Ford Motor Company, the second-largest car maker in the world, may dispose of both Jaguar and the profitable car finance division, Ford Credit .

The Jaguar purchase has not been lucrative for Ford, and the company has had to invest considerably to keep Jaguar afloat. Ford bought Jaguar for £1.6 billion in 1989. Last year Ford were forced to pay out £1.2 billion to keep Jaguar moving .

A move by Ford to sell Jaguar would raise a question mark over the other brands in the Ford portfolio . Also part of the Premier Automotive Group, brands such as Land Rover, Aston Martin and Volvo could face an uncertain future . Ford have called in the Wall street Investment Banker Kenneth Leet to advise on possible alliances and asset sales .

Buyers for Jaguar could include Peugeot and Renault, both of whom may be looking for luxury vehicles in their model lineup. The sale of Ford Credit could stir up the car finance market both abroad and in the UK.
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