Wednesday 26th March 2008

The Ford Motor Company announced the sale of its Jaguar and Land Rover divisions to the Tata Group, one of India’s oldest and largest business conglomerates, for some $2.3 billion–less than half of what Ford originally paid for the brands. The sale came at a time when Ford, along with much of the rest of the auto industry, was experiencing a sales slump as a result of the global economic crisis. For Tata, which earlier that year had unveiled the Nano, the world’s cheapest car, the purchase of the venerable British-based luxury brands was referred to by some observers as a “mass to class” acquisition.