It had almost reached the point where Ford couldn’t even give away Jaguar and Land Rover with the brands in dire straits financially, however a recent report has revealed the British manufacturers have significantly improved their bottom line.
Land Rover recorded a healthy profit of $1.2 billion in 2007, with Jaguar gaining significant ground, only $100 million in the red compared to a $500 million combined deficit in 2006.
Despite having turned around their balance sheet by $1.6 billion, and with both marques producing exceptional vehicles such as the LRX Concept from Land Rover, Ford has left both companies on the market – to little interest.
India’s Tata Motors remains as the only bidder with its $2.05 billion offer. Presumably with the release of these figures, Ford is hoping it will attract more bidders together with a higher price tag.
This wouldn’t be the first time the cash-strapped US manufacturer has sold off a profitable subsidiary, with Aston Martin fetching $931 million last August.