Ford Owns Jaguar And Aston Martin
Ford said today that it has entered into a definitive agreement to sell the british brands that were once part of its much touted premier automotive group which included lincoln and aston martin.
Ford owns jaguar and aston martin. Just as the x type was being launched ford ceo jac nasser made news around the world by creating premier automotive group and putting ex bmw executive wolfgang reitzle in charge. Aston martin was sold to a group of investors volvo to chinese automaker geely and jaguar and land rover went to tata motors for 2 3 billion in 2008. This copy cat scheme at ford came to be back when aston martin and jaguar were owned by the american giant who purchased the british brands in the 1990s along with some other european luxury makes. At this stage aston martin boss walter hayes enters the story.
Like jaguar aston martin was now owned by ford but unlike jaguar ford had little interest in the tiny sports car manufacturer for whom profits were near mythical occurrences. Ford s cfo at the time called the company austin martin. Ford placed aston martin in the premier automotive group invested in new manufacturing and ramped up production. This was a 925 million deal and the buyers included the racing mogul david richards as well as two kuwaiti firms adeem investment and investment dar.
In march 2008 ford sold jaguar and land rover to indian carmaker tata motors. Ford has remained a longtime partner at aston martin where it now holds an 8 stake. Ford sold 92 of aston martin to a consortium of investors headed by david richards in 2007. In september 2006 the rights to use the defunct rover brand were secured from bmw by ford to protect the land rover brand.
Who didn t like it. In 1995 aston martin produced a record 700 cars.
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