Ford confirms sale of Jaguar and Cosworth
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The Ford Motor Company has confirmed that Red Bull is the new owner of Jaguar Racing and that Tony Purnell will stay on with the team to run operations.
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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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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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Ford said on Friday its Jaguar Formula  One team would pull out of the sport at the end of the 2004  season.
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Ford predicted a bright future for the Jaguar Formula One team on Monday after completing the sale of the racing outfit to energy drinks company Red Bull.
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Carmaker Ford  said on Thursday that India's Tata Motors  was the front-runner to buy its European brands -- Jaguar and Land Rover.
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Cash-strapped Ford Motor Co. took a step yesterday toward selling its Jaguar and Land Rover units when it received an undisclosed number of opening bids for the British automaking businesses.
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Ford Motor Co . is set to choose a frontrunner to buy European brands Jaguar and Land Rover around the end of this week as it moves towards a sale early in 2008, said a person close to the matter on Monday.
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Motorsport.com. Ford has announced that Jaguar will be withdrawn from Formula One at the end of the 2004 season and the F1 business will be put up for sale.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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US automaker Ford says it is pulling its Jaguar Formula One team out of the auto racing circuit at the end of this season. Jaguar&#39;s chairman said the company does not believe it makes business sense to continue operating in Formula One.
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Formula One team Jaguar will race next season after being taken over by beverage company Red Bull on Monday. Ford said Austrian-based Red Bull GmbH had paid an undisclosed fee for Jaguar.
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FORD predicted a bright future for the Jaguar Formula One team after completing the sale of the racing outfit to energy drinks company Red Bull.
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Carmaker Ford  said on Thursday  that India's Tata Motors  was the front-runner to buy  its European brands -- Jaguar and Land Rover.
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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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Despite confirming the successful sale of both Jaguar Racing and its Cosworth engine company to new owners, Ford Motor Company has stressed that it remains committed to supporting motorsport at all levels.
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Bids are expected on Thursday for Fordâs Jaguar and Land Rover units from a variety of companies, including private equity firms, and possibly other automakers.