Ford won't sell

A report in The Detroit News states Sir Anthony Bamford, chairman of JCB, has abandoned his pursuit of Ford Motor Co.'s Jaguar division.

In August, the head of the large construction equipment manufacturer had expressed an interest in purchasing Jaguar if it would be cut loose of Land Rover, but Ford has decided it would not split the two. According to a report in today's Financial Times, Bamford said, "I am not interested in buying the two together and am therefore not getting involved".

Ford, who has been suffering considerable losses from the Jaguar division which it bought in 1989 for $3.03 billion, put sport car maker Aston Martin up for sale in August and recently announced it would sell Automobile Protection Corp., an extended warranty service. The company lost an estimated $1.4 billion in the first half of this year and continues to struggle with massive legacy and restructuring costs.

Unless JCB or another British-based company (Prodrive?) show interest in purchasing Aston Martin, it seems the British car industry will continue to solely consist of small niche manufacturers.