‘Sold’ followed by booming sales
Ford sold Jaguar and Land Rover to Tata in 2008 for $2.3bn, about half the combined total it had originally paid and after investing billions in product development. In 2007, the two brands had sold a combined total of just 287,000 cars, but by last year volumes had more than doubled to 604,000 units. Volvo’s turnaround is only slightly less dramatic, from 334,000 cars in 2009, the final year of Ford ownership, to 534,000 in 2016 – this before the new ‘40’ platform comes on line. Sales, and profits, that could have helped turned Ford around.