Ford’s sale of its Jaguar and Land Rover marques looks to have been delayed by the ongoing stock market troubles. The US car giant says no announcement will be made about the brands until the end of the year or early 2008.
Ford chief executive Alan Mulally admits the global financial position is “absolutely an issue”. The recent turmoil has seen a significant slowdown in takeover activity.
Private equity groups Ripplewood and Cerberus – which recently bought Chrysler – are thought to be among the frontrunners to buy Jaguar and Land Rover. Analysts have speculated that the sale could make Ford up to $2bn (£1bn).
Both marques are refusing to comment on the ongoing sale speculation and say it is “business as usual”.
It emerged last weekend that Land Rover is considering launching a battery-powered version of its compact Freelander 4×4 that will be 30% more economical than the present model.