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Ford says Jaguar, Volvo, Land Rover not for sale

Reuters

PARIS -- Ford Motor Co. said today that none of its European premium brand car businesses was for sale at this stage except Aston Martin, but added it would continue to examine all its options.

"For the moment Jaguar, Volvo and Land Rover are not for sale. If that changes we will tell you about it," Lewis Booth, head of Ford of Europe and its Premier Automotive Group of premium brands, told a Webcast presentation to analysts.

However, he did not rule out the possibility of the situation changing.

"Everything is on the table," Booth said.

Ford's premium brands -- Volvo, Jaguar, Aston Martin and Land Rover -- are grouped under the unit Premier Automotive Group.

Ford, which is in the midst of its third restructuring in five years, has said its British sports car unit Aston Martin was for sale. But analysts are keen to see the company sell money-losing Jaguar.

Ford's PAG is expected to post a loss this year, but Booth said he foresaw an improving trend for the division in 2007. Ford officials would not be more specific.

Jaguar remains the biggest drag on PAG's earnings, Booth said. "We always said it would take some time to fix the business," he added.

The second-biggest U.S. carmaker said two weeks ago it would cut 45,000 jobs and close 16 plants in North America to return the region to profits by 2009.

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Stacy94PGT
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.

My next Ford.....