UK: Ford seeks to make Land Rover profitable
Firm wants to repeat Jaguar Cars' success, cut costs, boost sales Executives at Ford Motor Co.'s Land Rover unit want to duplicate Ford's success in turning around Jaguar Cars after buying it in 1989, Land Rover's new chairman said. Ford acquired Land Rover in May from BMW for $2.85 billion and became owner on Saturday. The U.K.-based maker of Range Rover, Defender, Discovery and Freelander sport-utility vehicles is unprofitable. Ford aims to generate profit in 2002 and to increase annual sales to 200,000 vehicles in about five years from 168,000 last year.
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