Ford Motor Company has sold off its Jaguar and Land Rover Brands to Tata Motors, an India based company. sources indicate that the deal, signed last evening, will be publicly announced Wednesday morning. Ford has an exclusive satellite radio contract with Sirius. The deal encompasses all Ford owned brands, which includes Jaguar and Land Rover.
Ford is still expected to have some involvement with the brands because the deal has a stipulation that Ford motors will still be used by Tata. Current agreements tied to Land Rover and Jaguar will still hold, but in the future, SDARS will have a new company to negotiate with for OEM installs. Neither Jaguar nor Land Rover represent a large share of the auto market.
Position - Long Sirius, XM. No Position Ford