Ford May Sale Jaguar To Tata Motors

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Ford today released a statement on the potential sale of Jaguar Land Rover, in which the company states commitment in negotiations with Tata Motors, which can be the front runner potential buyer of Jaguar. Read Ford's statement below.

DEARBORN, Mich., Jan. 3, 2008 – The following statement is attributable to Lewis Booth, executive vice president – Ford of Europe and Premier Automotive Group (Chairman – Jaguar, Land Rover, Volvo and Ford of Europe):

“Ford is committed to focused negotiations at a more detailed level with Tata Motors concerning the potential sale of the combined Jaguar Land Rover business.”

"There is still a considerable amount of work to do, and while no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned." - By FORD