Tech & Auto
Sold Luxury: Why Ford Decided To Offload Jaguar And Land Rover
By ALEX HEVESY
Although Jaguar and Land Rover are icons of British automotive history, neither of the luxury car brands has been British-owned for some time now.
Ford bought Jaguar in 1989 and Land Rover in 2000. However, both brands declined under Ford’s leadership, thanks in no small part to the financial crisis of 2008.
According to Ford’s SEC filings, the automaker sold Jaguar and Land Rover in 2008, stating the move was to cut down on their overall bloated structure and for more brand cohesion.
The decision was part of Ford’s “One Ford,” or “Way Forward,” strategy. Additionally, Jaguar and Land Rover didn’t fit the company’s image of down-to-earth cars for regular people.
The sale helped Ford’s financials, with their SEC filing saying, “These sales have also helped our overall liquidity.” Jaguar and Land Rover were purchased by Tata Motors in 2008.