US: Ford reiterates only Aston Martin for sale
Ford said on Wednesday that none of its European premium brand car businesses was for sale at this stage except Aston Martin, but added it would continue to examine all its options.
"For the moment Jaguar, Volvo and Land Rover are not for sale. If that changes we will tell you about it," Lewis Booth, head of Ford of Europe and its Premier Automotive Group of premium brands, told a webcast presentation to analysts, Reuters reported. However, he did not rule out the possibility of the situation changing.
"Everything is on the table," Booth reportedly said.
Reuters noted that all Ford's premium brands - Volvo, Jaguar, Aston Martin and Land Rover - are grouped under the Premier Automotive Group unit.
It added that Ford, which is in the midst of its third restructuring in five years, has said its British sports car unit Aston Martin was for sale while analysts are keen to see the company sell money-losing Jaguar.
Ford's PAG is expected to post a loss this year, but Booth told the news agency he foresaw an improving trend for the division in 2007. Ford officials would not be more specific, Reuters added, noting that Jaguar remains the biggest drag on PAG's earnings.
According to the report, Booth said. "We always said it would take some time to fix the business."