| News on the possible sale of Ford's Swedish | | | | Volvo is a more attractive item since it has a solid |
| subsidiary is raging on. And in response to reports | | | | safety reputation and has three brand new models |
| circulating in Europe that Volvo is for sale, Ford has | | | | that are scheduled to come out this year. |
| released a statement last Monday refuting all reports | | | | He also added that Ford have to start selling the |
| saying that it is not involved in any negotiations to | | | | things that people want. "If they could get the price |
| sell its Sweden-based unit. It added however, that | | | | they want for Jaguar, they would have sold it by |
| the company is at the moment exploring all profitable | | | | now." |
| options. | | | | Private equity group including Cerberus Capital |
| According to spokesman Tom Hoyt "As part of that | | | | Management buyer of the 80 percent stake in the |
| continuing review, we're looking at everything and | | | | Chrysler Group from DaimlerChrysler AG has |
| have not ruled anything out. No decision has been | | | | reportedly expressed their interest in buying Jaguar |
| made." | | | | and Land Rover but Cerberus has not yet confirm |
| Ford has also confirmed that it has in fact hired | | | | such reports. |
| financial advisers to help find a profitable offer for | | | | Ford has also refused to give comments on their |
| Jaguar and Land Rover not including Volvo the | | | | individual brands for sale but analysts believe that |
| producer of Volvo 740 parts. Jaguar, Land Rover, | | | | Volvo is the most profitable of the three brands |
| and Volvo forms Ford's Premier Automotive Group. | | | | while Jaguar remains to be the biggest money-losing |
| Cerberus Capital Management, the private equity firm | | | | brand among the PAG. Ford's premium group has lost |
| that would soon owned Chrysler Group was reported | | | | $327 last year but was able to earn $402 million on a |
| to have expressed its interest in Jaguar and Land | | | | pre-tax basis for the first quarter. |
| Rover but Cerberus has not confirmed such reports. | | | | Ford has earlier unloaded a former premier group unit |
| George Magliano, an automotive research director for | | | | last March by selling its boutique sports-car maker |
| industry forecaster Global Insight said, Jaguar won't | | | | Aston Martin to a group of investors headed by |
| likely attract top dollar because the brand just | | | | British auto-racing champion David Richards for $848 |
| doesn't have the luster anymore. On the other hand | | | | million. |