Ford’s Premier Automotive Group (PAG) is back in the black thanks to the Jaguar Land Rover division.
PAG reported a 12-month pre-tax profit of £256 million for 2007, and this has been attributed to healthy Land Rover sales and cost reductions. In 2006, PAG reported a loss of £174 million in 2006.
Ford, which employs more than 2,000 people in Halewood, also revealed that full-year revenue for PAG was £16.8 billion, compared with £15.2 billion in the previous year, reports the Liverpool Daily Post.
A Ford spokesman said: “Jaguar Land Rover had its best-ever year in 2007. It was solidly profitable for the full year and was profitable in every quarter. Land Rover also had its third record sales year in a row.”
It was recently confirmed that Tata Motors had beaten One Equity Partners and Mahindra & Mahindra in the contest to be named Ford’s preferred bidder to buy the Jaguar and Land Rover brands.
(this article was taken from englandsnorthwest.com)