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March 26, 2008 – Ford sells Jaguar and Land Rover to Tata Motors

T ata Motors, a part of Indian conglomerate Tata Group, closed a deal to purchase Jaguar and Land Rover from Ford Motor Company on this day in 2008 for $2.3 billion, about half of what Ford purchased them for several years earlier. Under the terms of the deal Ford was to pay Tata another $600 million once the sale closed to make up for shortfalls in the two brands’ pension plans. Tata Group, which at the time of the sale was focused on overseas acquisitions of everything from coffee companies to manufacturing businesses, had no intention of making any  major changes to either brand, nor would it affect the jobs of the 16,000 people employed by the automakers. Ford offloaded the brands during a major company overhaul following a two year loss of $15 billion. 2008 Land Rover Range Rover by Michael Kumm CC2.0 https://flic.kr/p/4mNFyR2008 Jaguar XF by Michael Kumm CC2.0 https://flic.kr/p/4mSJDo

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