Ford will sell Jaguar and Land Rover within the next two months, a new report finds. Just last week, Ford announced it would push back the deadline for final bids, but has apparently since sped up the selling process. The bidding process has also faced challenges caused by a slumping credit market.
In an interview with the Spanish newspaper El Mundo, Ford’s European boss, John Fleming, revealed that the new owner of the luxury brands — Ford will sell both marques in a package deal — will be known within the next two months and that negotiations with bidders are “very advanced.â€
Leading candidates to buy the luxury brands include Tata, One Equity Partners and even Cerberus — the new owners of Chrysler LLC.
