This Day In History - 2008 Ford sells Jaguar and Land Rover to India’s Tata

DamonPearl94

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Ford sells Jaguar and Land Rover to India’s Tata - Mar 26, 2008 - HISTORY.com

On this day in 2008, the Ford Motor Company announces the sale of its Jaguar and Land Rover divisions to the Tata Group, one of India’s oldest and largest business conglomerates, for some $2.3 billion–less than half of what Ford originally paid for the brands. The sale came at a time when Ford, along with much of the rest of the auto industry, was experiencing a sales slump as a result of the global economic crisis. For Tata, which earlier that year had unveiled the Nano, the world’s cheapest car, the purchase of the venerable British-based luxury brands was referred to by some observers as a “mass to class” acquisition.
 
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