Did Ford own Jaguar and Aston Martin?
Yes, Ford Motor Company owned the British luxury car brands Jaguar and Aston Martin for several years in the late 20th and early 21st centuries. Ford acquired Jaguar in 1989 and Aston Martin in 1994, before eventually selling off both brands in the 2000s.
Ford's Acquisition of Jaguar and Aston Martin
In 1989, Ford Motor Company purchased Jaguar Cars, a British luxury automobile manufacturer, for $2.5 billion. This acquisition was part of Ford's strategy to expand its presence in the premium and luxury vehicle market.
Five years later, in 1994, Ford also acquired a majority stake in Aston Martin, another prestigious British sports car brand. Ford's goal was to leverage the heritage and prestige of these iconic British marques to boost its global competitiveness.
Ford's Ownership and Eventual Sale of the Brands
Under Ford's ownership, Jaguar and Aston Martin underwent significant investments and product development. However, the brands struggled to consistently turn a profit, and Ford eventually decided to sell them off in the 2000s.
- Ford sold a majority stake in Aston Martin to a consortium of investors in 2007.
- In 2008, Ford sold Jaguar and Land Rover to the Indian conglomerate Tata Motors.li>
The sales of Jaguar and Aston Martin allowed Ford to focus on its core Ford and Lincoln brands and improve its financial performance during a challenging period for the automotive industry.
