Ford Looks to Unload Euro Marques

(Akron/Tire Review) While the company is not commenting, Ford Motor Co. is actively seeking a buyer for its European luxury vehicle group, which includes Volvo, Land Rover and Jaguar. Ford has reportedly retained two major financial firms to arrange the sale, and wants to move quickly to move the brands.

It is unclear if Ford wants to sell the three fabled marques as a group or is willing to part with them individually. Ford lost some $13 billion last year and is looking for ways to trim costs. Its Premier Automotive Group, which managed the brands worldwide, lost $2.32 billion last year.