Seems FoMoCo has sold off two of its divisions, Jaguar and Land Rover, to Tata Motors. Who's Tata, you ask? Well, besides the punchline to a dirty joke, they're the biggest truckmaker in India. Ford bought Jaguar in 1989 for $2.5 billion and Land Rover in 2000 for $2.73 billion, and just sold both for $2.3 billion.
Rico says it'll be a miracle if Jaguar survives the transition, though Land Rover probably still has enough third-world market to make it. Since a Land Rover was his first (and still favorite) vehicle, he'd hate to see them go away...
26 March 2008
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