Ford did it !!!!
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Post Fiend
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Ford did it !!!!
They sold astin martin to racing mogul David Richards and car collector John Sinder along with 2 Kuwaiti companies, Investment Darr and Adeem investment company. Ford will recieve 848 million and retain a 77 million dollar stake in the company. The total value of the deal is 925 million. Alan said that it was part of fords turn a round to enable them to produce new car and truck designs at a faster pace, it will also free up capital for astin martins continuing growth. Ford kept some of it for whatever reason, it was a nitch car for the rich. The article said that it continued to grow under fords ownership every year except for 92. Alan wants to keep jag and they allways wanted to keep land rover, but thought they might have to let land rover go to get rid of jag. I think it's kinda cool that they own jag and LR, but I never gave much thought to astin martin, not only are they priced to high, you never see them around. There is quit a few jags around, a lady at our church just bought one. Maybe thier gathering up some cash to buy chrysler ha ha.
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Joined: Jan 2007
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From: Wahnapitae,Ontario,CANADA
Man that is too bad. Doesn't seem right to me though. Ford reported a $12 billion loss for 2006 (over $4400 per vehicle sold) and they get rid of a profitting portion of the whole business. I sure hope it betters them in the future. Although I'd never have the opportunity to by an Aston Martin, it's nice to know of the other FORD owned companies. A shame to lose one.
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From: some where....Some place
well it really wont do anything but help them.. after all thats money there.. and it maybe just the thing to bring them back.. now if they would only offload that crappy jaguar and invest more into my lovely lincolns and mercurys they'd be a winner
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Post Fiend
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Yeah, I'm greedy, I wish we would of kept all the companies and bought jeep as well, now I'm dreaming. Not that I want them to sell jag, but I wonder why thier so determined to hold on to it, they most know something.
Ford Parts Specialist
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From: Simi Valley, CA
Ford has been trying to sell Jaguar for quite some time now. The only reason they are keeping Jag, is that no one is interested in buying it. Just think what Ford could have done with the 6 BILLION+ DOLLARS they've invested so far. Sales are miniscule, about 1300 total units a month. BMW sells that many in a couple of days.
Now Ford is redesiging the top of the line XJ model, because sales are slim and none due to the last restyle Ford did. They have to do something fast to save the car. More money down the drain.
Meanwhile over at Lincoln Mercury, the only car that is selling worth a damn is the Milan. Both the Town Car and Grand Marquis need help...NOW. The only problem is...there's no money to do anything.
Now Ford is redesiging the top of the line XJ model, because sales are slim and none due to the last restyle Ford did. They have to do something fast to save the car. More money down the drain.
Meanwhile over at Lincoln Mercury, the only car that is selling worth a damn is the Milan. Both the Town Car and Grand Marquis need help...NOW. The only problem is...there's no money to do anything.
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From: some where....Some place
and the sad fact about the Lincoln mercury division are such fine cars and have a history.. i just cant believe all that money wasted on jag.. although landrovers not too bad. but jag doesn't have the history with americans like L/M if marketed correctly with some new vehicles.. that could be the thing that save ford
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Ford Parts Specialist
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From: Simi Valley, CA
Originally Posted by Red Star
MKZ and new Navigator are pretty good sellers.
I don't really see point of Mercury, they just make more competition for Ford.
I don't really see point of Mercury, they just make more competition for Ford.
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Post Fiend
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Alan Mulroy said he wasn't interested in selling jag, they have plans for it, Thats what I'm saying, they most know something. Linclon mercury seems to have a motivation problem more than anything, they need to take a real interest in it. Alan says that there's great things comming from that brand as well, so maybe.
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From: Simi Valley, CA
Look at what was selling in 1938. GM had Cadillac, LaSalle, Oldsmobile, Buick, Pontiac and Chevrolet. Chrysler had Dodge, DeSoto, Plymouth and Imperial. Ford had Lincoln-Zephyr, and the big Lincolns which sold about 1000 units a year. Ford had just fallen to 3rd place in sales. 12 years ago, they were first.
So Ford needed another mid-priced car to fit between the Ford and the Zephyr. Ford developed the Mercury, and introduced it in 1939. While Mercs have never been a top seller, they were in the Top 10 almost from day one till the late 1970's.
What Ford needs to do with Mercury is offer something fresh, instead of the mostly bland rebadged Fords they have been making for decades. A High Performance convertible and coupe along the lines of the Chrysler 300 would be a big help. But it ain't going to happen...no money.
So Ford needed another mid-priced car to fit between the Ford and the Zephyr. Ford developed the Mercury, and introduced it in 1939. While Mercs have never been a top seller, they were in the Top 10 almost from day one till the late 1970's.
What Ford needs to do with Mercury is offer something fresh, instead of the mostly bland rebadged Fords they have been making for decades. A High Performance convertible and coupe along the lines of the Chrysler 300 would be a big help. But it ain't going to happen...no money.
Last edited by NumberDummy; Mar 12, 2007 at 10:03 PM.
Ford Parts Specialist
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From: Simi Valley, CA
Originally Posted by wendell borror
Alan Mulroy said he wasn't interested in selling jag, they have plans for it, Thats what I'm saying, they most know something. Lincoln-Mercury seems to have a motivation problem more than anything, they need to take a real interest in it. Alan says that there's great things comming from that brand as well, so maybe.
Mulally's comments regarding Jaguar are nothing more than a face saving gesture. Ford would sell Jaguar in a NY minute if there was any interest, which there isn't. Who would want a half-moribund company which offers cars that are dead last in all the markets they are competing in? No one.
What are the plans? Jag has had a poor reputation for decades, brought on by poor styling, marketing, expensive technology that didn't work, and don't forget Lucas Electrics. Ford bought Jag, and did away with Lucas, but the car has never sold since the glory days of the 1950's and 60's. There is no way Jag can compete against Lexus, BMW and Mercedes-Benz, where brand loyalty is king. People that can afford 60 grand plus aren't going to switch to Jaguar, not now...not ever. The car is a very expensive money pit...6 billion and counting. They ought to rename it the Millstone.
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My son has one of those re-badged Jags, a Lincoln LS, and he loves the car. It seems to be very reliable and he can get 30MPG with it. Ford spent a bundle designing the car and it seems to have turned out well but most people have no idea they even exist. Ford's advertising has all been pushing trucks and trucks... They have many other fine vehicles but nobody hears about them.