Market turmoil hits Jaguar sale
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Ford admits its sale of Jaguar and Land Rover is being affected by the markets turmoil, but says the process is not slowing down.
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Jaguar boss Tony Purnell has revealed there is &quot;masses of interest&quot; in buying the troubled Formula One team. Purnell, who runs Jaguar a part of his role as chief of Ford&#39;s premier performance division, believes
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Ford sprang a surprise when it declared that Jaguar was moving out of Formula-1 and the team is up for sale or dismantling. That decision gave rise to the speculation that Ford might be considering moving out of World Rally Championship as well.
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Major automakers posted mixed U.S.  sales for August on Tuesday, as executives cautioned the  embattled industry was facing reverberations from a weaker  housing market and the shakeout in subprime lending.
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Jaguar Cars said Friday it is cutting production at its three British plants because of poor sales of its luxury cars in the United States, the company&#39;s biggest market.
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Business leaders in the West Midlands are bracing themselves for the potentially disastrous impact of any decision to close the local Jaguar factory.
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Automakers faced an uphill climb in the US market in January, as weak economic conditions and consumer caution put a dent into sales, company reports showed Friday.
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Jaguar is to halt production at one of its plant in Coventry, central England, with the loss of more than 1,000 jobs, because of weak demand for the luxury brand, US parent company Ford announced.
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Red Bull have this morning been confirmed as the new owners of Jaguar Racing after Ford completed their withdrawal from Formula One.
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DETROIT -- Ford Motor Co.'s sales dropped 14.4 percent in August as the struggling automaker ran into a declining market that analysts blame on rising mortgage payments and turmoil in the financial markets.
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The Ford Motor Company  is  expected to receive opening bids on Thursday for its Jaguar and  Land Rover brands from a number of companies including private  equity firms and other automakers, the New York Times reported  on Thursday, citing people with direct knowledge of the  situation.
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SAO PAULO, Brazil : The future of the Jaguar Formula One team is expected to be announced later this week when a decision is taken over offers made to buy the outfit.
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Jaguar Racing boss Tony Purnell says he&#39;s received &quot;masses of interest&quot; in the F1 team since Ford announced it was putting the entire operation up for sale.
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Detroit: The Ford Motor Company has surprised analysts by offering a brighter outlook for the third quarter and 2004 earnings, even as it announced it was swinging the axe at its luxury Jaguar division.
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"I don't think anybody's going to bid cold, hard cash for Jaguar"  Cash-strapped Ford Motor Co. took a step toward selling its Jaguar and Land Rover units on Thursday when it received an undisclosed number of opening bids for its British automaking businesses.Thursday was a deadline to submit early bids, but Ford said no sale is imminent.'We've had contacts from third parties, and we're actively evaluating them as part of our strategic review,' John Gardiner, a Ford spokesman in London, said Thursday. 'They've only been preliminary discussions, and no decisions have been made.' Read more
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PARIS/MUMBAI  - Three bidders for Ford's Jaguar and Land Rover marques remain in the process, said a person familiar with the matter on Friday, but India's Tata still looks favorite to seal a deal which may not come until the new year.
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Fallout from a crisis in the U.S.  subprime mortgage market rattled the auto sector on Tuesday  after the debt package for a General Motors asset sale was  postponed and borrowing costs on automakers&#39; debt surged.