Have Jaguar and Land Rover "Turned the Corner?"
Just-auto [sub] reports that Ford's Jaguar and Land Rover brands may have found their proverbial feet prior to sale. The eds say Landie will rack-up a $1.2bn profit in 2007, while Jag reduced its losses to around $100m "thanks to cost-cutting and concentrating on fewer, more profitable sales." Obviously, reducing losses isn't the same as making money, and Just-auto stays shtum on the number from which the $100m has been deducted. All we know is that the two brands combined lost FoMoCo $500m last year, apparently. Ford has refused to break-out the numbers for the various parts of its European misadventure since high-living former Bimmer exec Wolgang Rietzle formed the Premium Automotive Group at Dearborn's behest. So who's spinning the spin, leaking the info? Perhaps Tata Motors, who'd like the markets to think they're picking-up Landie and Jag for a $3b "bargain." Or Ford, to keep Tata on board. In any case, the clouds of European and American fuel economy standards hang heavy over both. Dead cat bounce?