Home> International News> News detail

Ford predicts PAG profit by 2007

From Automotive News | January 31,2007

After losing money for three years, Ford's Premier Automotive Group may be back in the black in 2007. In 2006, the four European luxury brands lost $327 million before taxes. Ford sources say the luxury British brand, Jaguar, has lost $500 million to $1 billion a year since 2001. Jaguar executives concede the unit likely will lose money in 2007 and 2008 as well.

Ford does not break out earnings for individual PAG brands, but sources claim that Volvo is the cash provider. Volvo typically has earned $800 million to $1.2 billion a year. Land Rover is said to have produced a slim profit.

Copyright Notice © 2016 Gasgoo.com Corporation and its licensors. All rights reserved.