Ford Opens Doors For Jaguar, Land Rover Bids : Love car New Land rover new car 2008 review

Ford Opens Doors For Jaguar, Land Rover Bids : New Land rover new car 2008 review
by Anthony Fontanelle
The recuperating Ford Motor Co. is opening its doors to welcome eager bidders. The automaker has finally decided to take that crucial step to let go two of its precious European brands included in the Premium Automotive Group (PAG).The Dearborn-based automaker received last Thursday an undisclosed number of opening bids for its Jaguar and Land Rover British luxury brands, reported the Associated Press. Thursday was a deadline to submit early bids, but the automaker 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, said Thursday. "They've only been preliminary discussions, and no decisions have been made." Gardiner refused to divulge the number of bids and who submitted them.In 2006, the second largest American automaker lost $12.7 billion and $282 million in the first quarter of 2007. The automaker has slashed thousands of jobs and closed several plants in an effort to reduce production costs. Analysts say the automaker in is need of liquid assets to sustain its turnaround plan and eventually return in the black. As such, it is selling the European brands to raise money for the improvement of Ford parts, production and business structure.Ford sold its Aston Martin brand, also part of PAG, for $848 million in March. Now, the automaker is selling Jaguar and Land Rover. There is also a hot speculation that the Dearborn-based automaker would likely sell Volvo Cars, its Scandinavian brand. The rumor, spreading like wildfire, is still eliciting diverse speculations among auto industry watchers.A company official who spoke on condition of anonymity because the bidding process is confidential said Thursday that preliminary bids have been submitted only for Jaguar and Land Rover, and that the company did not take bids for Volvo.Paul Newton, an analyst in London for the Global Insight automotive research firm, said that he expects Jaguar and Land Rover to be sold separately because of Jaguar's losses. "Ford may even have to pay or assume liabilities to get Jaguar off its books," he added, "but Land Rover is a reasonable value for a buyer. I don't think anybody's going to bid cold, hard cash for Jaguar."Newton noted Ford would like to find a buyer or buyers who would preserve the Jaguar and Land Rover heritage and jobs in the United Kingdom. Ford, which is the top auto seller in the U.K., does not want to rankle its British customers, Newton said in an interview with The Press.Ford said Thursday that it has had contact with interested parties for its Land Rover and Jaguar luxury brands and is evaluating the level of interest, Reuters reported. "We have had contact with interested parties," said Gardiner. "We are actively evaluating the level of interest."Quoting a company spokesman in Seoul, Bloomberg News reported Wednesday that Hyundai had no interest in acquiring another auto brand. Meanwhile, The Financial Times said that Renault of France and Nissan of Japan had decided to inhibit in the opening round of bids.The International Herald Tribune said Ford had asked potential bidders to make themselves known by Thursday. A variety of companies, including private equity firms and possibly other automakers, have been preparing bids, continued the Tribune report.The Tribune reported bidders were expected to include Cerberus Capital Management, the investment group that purchased the Chrysler Group in May. Other potential bidders include Ripplewood Holdings, a group led by Thomas Stallkamp, the former president of Chrysler. One Equity Partners, another investment firm whose senior partners include Jacques Nasser, former Ford CEO, may also participate in the bidding process.

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Land Rover LRX Heading to Detroit : Love car New Land rover new car auto review 2008

Land Rover LRX Heading to Detroit : New Land rover new car auto review 2008
by Anthony Fontanelle
British automaker Land Rover, subsidiary of Ford Motor Company's Premier Automotive Group (PAG) will unveil their newest concept model at the North American International Auto Show (NAIAS) in Detroit this coming January 2008. The Land Rover LRX concept will make its world premiere at the most prestigious motor show in the United States and will stir the crowd in Detroit. According to Land Rover, the LRX concept is a vision of the company's future and the "bold evolution" of Land Rover's design that indicates the "progressive shift into new areas of the market, while remaining true to its core values." In addition, the Land Rover LRX concept will mark the British automaker's 60th anniversary.Phil Popham, Land Rover's managing director said: "The LRX concept delivers the powerful message that we are as serious about sustainability as we are confident about the continuing relevance and desirability of our vehicles. The LRX is in every respect a Land Rover, but it's a very different Land Rover."Popham added: "LRX has unmistakable Land Rover design and the breadth of capability that you'd expect from our vehicles. But it carries those essentials into a segment where the brand has never been before, and with a proposed level of efficiency that would make it one of the cleanest vehicles in its class."The new Land Rover LRX concept that is heading to Detroit features a three-door body styling with several components that made this striking model more compact, and lighter. The new LRX is smaller than the popular LR2 model, which will answer the needs of customers in the segment. Overall, the new Land Rover combines the aggressive characteristics and capability of a 4x4 vehicle and the concept of a large vehicle, in a compact model. Land Rover expects that this quality will be the vehicle's assets during its launch in world wide market. Moreover, the compact size of the Land Rover LRX concept will have an appeal to customers, especially in the United Kingdom who wanted a versatile sport utility vehicle (SUV) model carrying a Land Rover nameplate.Unfortunately, the British automaker did not release detailed specs and features of the new LRX concept. Land Rover only states some of the highlights of the LRX concept, which include reduced aerodynamic drag, smaller frontal area, improved fuel efficiency, reduced harmful exhaust emissions, and sustainability focused technologies. Car fans should watch out for the Land Rover LRX at 2008 NAIAS, because the automaker said that the features, specs, and full details of this new concept model will be released during the show. Anyway, customers can upgrade their auto parts (like GMC Jimmy catalytic converter) while waiting for the LRX to arrive in dealerships here in the U.S.

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