by C. Bartow • Jan 7, 2008
The rumor mill has been grinding since last June when Ford put out the word that it was selling off its Land Rover and Jaguar marques, saying that India’s Tata Motors was the likely bid-winner. The American company needed desperately to turn its overextension around and start showing a profit, and the Indian company was salivating over the brands’ well-established distribution network to serve one of the world’s fastest-growing markets.
"Ford is committed to focused negotiations at a more detailed level with Tata Motors concerning the potential sale of the combined Jaguar Land Rover business, " said Lewis Booth, executive vice president with responsibility for Premier Automotive Group and Ford of Europe, in a statement.