Jaguar XK: helping to save the company
Jaguar is safe -- for now.
According to a story in the Financial Times, the role of the troubleshooter, who was employed to help sort out troubled Ford's finances and identify bits of the company that could be disposed of, has been scaled back.
The former Goldman Sachs banker will now focus instead on getting the sale of Aston Martin right. Ford announced on 1 September that it would sell the iconic marque in order to help stabilise its shaky financial situation -- and the AM sale will go ahead, although no buyers have yet officially been announced.
But Ford's new boss Alan Mulally told the FT that all the analysis showed that the best thing for Ford was "to turn Ford around", rather than sell off the rest of its major assets.
Ford now has four priorities, according to Mulally:
- To cut production capacity in line with eroding market share
- To accelerate the development of cars and fuel-efficient light trucks
- To secure the company's finances
- To eliminate barriers to communication within the company.
He said that Ford's recent investments in Jaguar and Land Rover were paying off. "We're very pleased with the progress", he said.
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