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Ford Sells Jaguar, Land Rover Brands to Tata

Ford Motor Company will sell its Jaguar Land Rover operations to India-based Tata Motors for $2.3 billion. The sale price is less than half the amount that Ford paid for the luxury vehicle brands in 1989 (Jaguar) and 2000 (Land Rover). As part of the deal, Ford will pay $600 million into the Jaguar Land Rover pension funds. In addition, Ford will continue to supply Jaguar Land Rover with powertrains, stamping, and other vehicle components and technologies. Pending regulatory approval, the deal is expected to close during the second quarter of this year. Industry analysts point to the move as a necessary step in Ford's attempt to regain profitability after more than $15 billion in losses over the past two years. Analysts also point out that Jaguar and Land Rover are luxury brands that are facing sales challenges in the weakened economy.

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