Ford turns to Tata for Jag & Land Rover sale - Mercedes-Benz Forum

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Ford turns to Tata for Jag & Land Rover sale

Ford turns to Tata for Jag sale

Ford Motor (F, news, msgs) is turning to India's Tata Motors as the likely candidate to take Jaguar and Land Rover off of Ford's hands.

Ford said this morning that it will hold "substantive" talks with the Indian company, although "there is still a considerable amount of work to do," the U.S. automaker said in a statement.

Ford "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," Lewis Booth, executive vice president of Ford's European units, said.

Shares of Ford were up 2 cents to $6.62 in pre-market trading.

Ford lost a record $12.6 billion in 2006 and has since been looking to get rid of its Jaguar and Land Rover businesses to focus on the ailing U.S. market.

Separately, Ford, General Motors (GM, news, msgs) and Chrysler will report U.S. sales for December later this morning. The Big Three are all expected to show declining sales.

Market Dispatches - MSN Money
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