Ford puts Jaguar on a diet and drops Formula One team
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DETROIT Refocusing on its core business, Ford Motor on Friday unveiled the beginning of a restructuring plan for its struggling Jaguar division, closing the unit&#39;s main plant and putting its Formula One racing business up for sale.
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LUXURY carmaker Jaguar is slashing production levels for the rest of this year by 11% to make up for a shortfall in sales. The Ford-owned car marque is bringing in the cuts - a reduction of 15,000 cars - as
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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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Ford today announced the end their Formula One programme with Jaguar. The F1 squad will not be re-branded as Ford as previously rumoured, but in fact is to be sold.
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JAGUAR will end production at its famous Coventry plant with the loss of 1,150 jobs, it was confirmed yesterday. Bosses blame huge losses at the firm - nearly Â£100million in just three months this year.
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As had been predicted, Ford has announced that car production is to cease at Jaguar&#39;s Browns Lane plant in Coventry , England .
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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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The US car giant Ford today announced the sale of its Jaguar formula one cars to Red Bull, the Austrian energy drink firm. Ford put the Jaguar team up for sale in September as it announced plans to reorganise
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The Ford Motor Company&#39;s decision to quit Formula 1 and sell its F1-related operations is a setback for the whole sport. It paints F1 in a negative light: Formula 1, Richard Parry-Jones said, was too expensive and was too slow to change.
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Jaguar will pull out of Formula One at the end of 2004, with parent company Ford&#39;s engine maker Cosworth also up for sale. Ford&#39;s bombshell announcement on Friday has huge
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Formula one was thrown into crisis yesterday when the Jaguar team were put up for sale by their owner Ford along with Cosworth Racing, the Northampton-based specialist which also supplies engines to Jordan and Minardi.
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Austrian energy drink firm Red Bull has  taken over the Jaguar Formula One team from Ford, Red Bull's  owner told a newspaper Sunday.
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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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Luxury carmaker Jaguar said Friday it was stopping assembly work at its headquarters and cutting 1,150 jobs as a result of overproduction and poor sales in the key U.S. market.
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BRUSSELS - Ford, who have put their Jaguar Formula One motor racing team up for sale, are staying in rallying for the next four years, Ford Europe chief Lewis Booth said.
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Former world champion Jacques Villeneuve leaves BMW Sauber with immediate effect.
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Formula One, already struggling to shape its future and put on a show, is staring into the abyss after Ford&#39;s decision to pull out and sell its Jaguar team.