Only a few weeks ago, BMW had shown some serious interest in Volvo but at the time, no one had indicated that the Swedish company was for sale.
Today, things are very different. According to Automotive News sources, the Ford Motor Company is currently seeking buyers for the luxury car group. It appears as though Fiat and Ford were in heavy negotiations for Jaguar and Land Rover for a number of months.
Both Fiat and Ford have broken off talks but Ford appears to have hired two investment banks, Goldman Sachs and Morgan Stanley, to handle the takeover of Volvo, Jaguar and Land Rover.
Last year, PAG lost $327 million. This year, finances look better as they have reported a $402 million pre-tax profit in the first quarter. Jaguar is the black sheep of the small group. The company has lost between $500 million to $1 billion every year for the last six years.
Today, things are very different. According to Automotive News sources, the Ford Motor Company is currently seeking buyers for the luxury car group. It appears as though Fiat and Ford were in heavy negotiations for Jaguar and Land Rover for a number of months.
 |
Both Fiat and Ford have broken off talks but Ford appears to have hired two investment banks, Goldman Sachs and Morgan Stanley, to handle the takeover of Volvo, Jaguar and Land Rover.
Last year, PAG lost $327 million. This year, finances look better as they have reported a $402 million pre-tax profit in the first quarter. Jaguar is the black sheep of the small group. The company has lost between $500 million to $1 billion every year for the last six years.