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Ford retreats over Jaguar target

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Ford Motor has retreated from its pledge to return its Jaguar luxury brand to profit by 2007, intensifying the pressure on the American carmaker as it struggles with heavy losses in its core US business.

Mark Fields, outgoing chairman of the Premier Automotive Group of Ford's premium brands, said the target was "misplaced" and refused to say when Jaguar now expected to stem the red ink. "I'm not going to put a date on when Jaguar will return to profitability," he said. "But clearly it is my intention to make Jaguar a profitable business."

http://news.moneycentral.msn.com/provider/...0914&ID=5113490

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Is it just me or do other people think Ford has no little clue when it comes to the luxury car business?

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Is it just me or do other people think Ford has little clue when it comes to the luxury car business? Edit: Oops. Sorry about that. Edited by sciguy_0504

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I don't know about business, but certainly they have the talent and resources to make great luxury cars -- the Range Rover, the DB9, the XJ, and the XK.

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