Ford Execs: Aston Martin Is for Sale

[NFS4]

DEARBORN, Mich. ? Ford Motor Company CEO William Clay Ford, Jr., said in a statement that his company would be willing to consider a full or partial sale of Aston Martin.

He called the company "distinctly different from other Ford brands," and said it is the "most logical and capital-smart divestiture choice" for the financially challenged corporation.

The automaker is currently executing a review of its assets to determine how best to dig out of its financial straits.

"Aston Martin Lagonda has flourished under Ford ownership," Bill Ford said in a statement, "which is why we believe it is prudent to consider a sale of all or part of this prized brand."

The statement said there is "no assurance" a sale will actually take place and did not name any prospective buyers.

Ford added that the company has made no decision about a full or partial sale of other brands in the Premier Automotive Group, notably Jaguar and Land Rover, which reportedly are of interest to an investment firm in which former Ford CEO Jacques Nasser is a partner. Ford said the company is "encouraged...by the strength and consumer appeal of the Jaguar, Land Rover and Volvo product lineups."

What this means to you: Aston Martin has some impressive products and might make an attractive addition to an automaker's portfolio. Hard to say who it is, but we'll bet GM is not interested.

http://www.edmunds.com/insideline/do/News/articleId=116676

 

[fbrdphreak]

GM Aston Martin, LOL

Is MIKEMIKE creaming his pants?

 

[StevenYoo]

I'lk take it for $200.

 

[Strk]

Wait a second.... They're willing to sell Aston but not Jaguar? Jaguar is such a money pit.

 

[foghorn67]

Originally posted by: Strk
Wait a second.... They're willing to sell Aston but not Jaguar? Jaguar is such a money pit.

I was thinking the same thing. Aston Martin's have been an editors delight in the past few years. Jaguar, hit and miss. The new coupe and XJS are nice. But the profits are bad. They laid off a bunch of workers at Coventry, and stopped the F1 program.

 

[JS80]

Originally posted by: foghorn67

Originally posted by: Strk
Wait a second.... They're willing to sell Aston but not Jaguar? Jaguar is such a money pit.

I was thinking the same thing. Aston Martin's have been an editors delight in the past few years. Jaguar, hit and miss. The new coupe and XJS are nice. But the profits are bad. They laid off a bunch of workers at Coventry, and stopped the F1 program.

they must figure jags have more potential to go mainstream

 

[giantpinkbunnyhead]

Yeah plus Jags are hideous. Astons are orgasmic.

 

[Zenmervolt]

What genius came up with this? I can see the meeting now...

Exec: We're not profitable enough, we need to get rid of the dead wood in our lineup.

Billy Ford: I've got it! Let's sell off the one profitable luxury brand we've got, what can we possibly learn from our only success story?

They need to get Bill Ford OUT of the company.

ZV

 

[GTaudiophile]

BMW should buy it.

Edit: But sounds like another dumb-ass move on Ford's part. Looking for the short-term gain only. Sell Jaquar!

 

[dirtboy]

Profitable or not, this is a smart move for Ford. They should get rid of everything in the PAG except Volvo.

 

[PottedMeat]

Originally posted by: Zenmervolt
What genius came up with this? I can see the meeting now...

Exec: We're not profitable enough, we need to get rid of the dead wood in our lineup.

Billy Ford: I've got it! Let's sell off the one profitable luxury brand we've got, what can we possibly learn from our only success story?

They need to get Bill Ford OUT of the company.

ZV

yeah - aren't the majority of their problems domestic?

Maybe they should sell off all the money pits ( ford/jag ) hehe

 

[Marinski]

I dont think anybody wants to buy jaguar. Atleast thats what i read..

 

[ElFenix]

they must think jaguar is coming back and would be undervalued at the auction block.

jaguar needs to get a new version of the S-type.

 

[AStar617]

They should sell to a group that intends on continuing the hand-built tradition of Aston, not turning to mass production like Ford did.

 

[Chadder007]

Originally posted by: GTaudiophile
BMW should buy it.

Edit: But sounds like another dumb-ass move on Ford's part. Looking for the short-term gain only. Sell Jaquar!

Thats who I was going to say. BMW should buy it.

 

[QurazyQuisp]

Originally posted by: GTaudiophile
BMW should buy it.

I agree, it'd fit Aston Martin would fit into the BMW family perfect.

 

[Mr.IncrediblyBored]

Originally posted by: AStar617
They should sell to a group that intends on continuing the hand-built tradition of Aston, not turning to mass production like Ford did.

Aston is currently building the best vehicles in the history of their existence (or at least in the last several decades). And they are finally profitable at it. The same could not be said before they were purchased by Ford.

If you were truly an Aston fan, you would encourage a takeover that gives their engineers and designers the same leeway and support that Ford's given them the last 15 years.