January 2007: Ford reports its biggest loss ever of $12.6 billion USD in 2006.

March 2007: Aston Martin, part of Ford’s Premier Automotive Group (PAG – consisting of Aston Martin, Jaguar, Land Rover and Volvo), is sold to a consortium of investors led by David Richards, chairman of the legendary racing and engineering outfit, Prodrive, and former team boss of the BAR and Benetton Formula 1 teams.

May 2007: Alan Mullaly, president and CEO, Ford Motor Company, provides an assurance that Jaguar and Land Rover (JLR) are not up for sale.

June 2007: Reports suggest that JLR are in fact up for sale. The selling price is estimated to be anywhere between $2 to 6 billion USD.

August 2007: Tata Motors is said to have initiated the due diligence process for JLR. Reports also indicate that our very own M&M and Cerberus Capital (who've recently taken control of Chrysler) are prospective buyers. Additional speculation suggests that Tata Motors may actually bid jointly with Fiat.

Sept 2007: Proof of Ford’s dedication and continued investment in both brands, the new and very exciting Jaguar XF sedan is launched. The XF will compete with the likes of the Mercedes E class and BMW 5 series, and has the potential to turn around the fortunes for Jaguar – good news for any prospective buyer.

Nov 2007: Tata Motors is reportedly the leading contender, ahead of M&M and One Equity Partners (a private equity firm led by Jacques Nasser, former Ford CEO and founder of PAG) in the fight for JLR with voices of support from union representatives.

Jan 2008: Announcement of the sale appears imminent while the finer details are worked out.

Jan 2008: As Land Rover prepares to celebrate its 60th anniversary, the completely new and bold LRX concept is revealed – signaling a new direction for the brand. One of the first decisions that Tata Motors will have to make is whether or not to put this concept into production.

March 2008: With negotiations complete, Ford announces an agreement to sell the highly regarded British marques Jaguar and Land Rover to Tata Motors for $2.3 billion USD. At closing, by the end of next quarter (subject to regulatory approvals), Ford will contribute approximately $600 million USD to JLR pension plans.

"Jaguar and Land Rover are terrific brands," said Alan Mulally, president and CEO, Ford Motor Company. "We are confident that they are leaving our fold with the products, plan and team to continue to thrive under Tata’s stewardship.”

Mr. Ratan Tata, added, "We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business. We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact."

As part of the transaction, Ford will continue to supply JLR powertrains, stampings and other vehicle components, in addition to a variety of technologies, such as environmental and platform technologies for differing periods of time. Ford also has committed to provide engineering support, including research and development, plus information technology, accounting and other services.

JLR’s three UK plants will continue to operate as before, neither will there be any personnel changes or sourcing from India for the moment.