Ford plans to sell Jaguar and Land Rover

The Ford Automobile Concern intends to put up its British divisions Jaguar and Land Rover for sale. The Ford leadership informed a number of members of the British parliament that it would take some more time, the Air Force television and radio broadcasting corporation reports.

According to the Air Force, Ford bought Jaguar in 1989, and Land Rover in 2000. It is expected that Ford, trying to reduce expenses in the conditions of falling sales volumes, will officially announce the situation around these brands of Lux class cars in the coming days.

Ford believes that private investment companies will show an active interest in buying Jaguar and Land Rover.

Earlier there were reports that Ford attracted the investment banks Goldman Sachs, Morgan Stanley and HSBC as a sales consultants Jaguar and Land Rover.

In March, Ford sold the Aston Martin sports machines company for 479 million pounds ($ 924 million).

The American Auto Concert implements the restructuring program in an attempt to improve its financial situation.

In the first three months of 2007, the company incurred losses in the amount of $ 282 million, which, however, is much less than $ 1.4 billion in the first three months of last year.

Ford and other American manufacturers suffer due to rigid competition from Asian auto companies amid a sharp decrease in demand for non-economic cars.

Until recently, analysts wondered what steps Ford could take on Jaguar and Land Rover, the financial results of which cannot be called impressive.