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Ford - Motor Company - Tata Jaguar and Land Rover

2008-05-27 11:12:32 - Ford Motor Company has announced that its luxury UK based Jaguar and Land Rover divisions will be sold to an Indian business group called Tata. This move will allow Ford to concentrate on their primary brand. The move is expected to cost Tata £1.15 billion.

Negotiations started in June 2007, since then price negotiations delayed the final transaction, which is expected by the end of Q2. The reason behind the sale comes down to profitability for Ford as the Jaguar brand of cars were losing money, while Ford also want to create a strong global brand for their existing Ford badge. 'Now, it is time for Ford to concentrate on integrating the Ford brand globally, as we implement our plan to create a strong Ford Motor Company that delivers profitable growth for all' said Chief Executive Officer of Ford.

Tata Indian Business Group

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Over 15,000 staff are currently employed by Jaguar and Land Rover in the UK, but both Tata and Ford have stated that there will be no major employment changes.

Tata Motors, previously called TELCO, were established in 1945 and are India's largest passenger car manufacturer, based in Mumbai. Tata have previously bought the South Korean based company, Daewoo Commercial Vehicles and also have joint ventures with Spanish and Brazilian bus companies.

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