Ford Motor not looking at alliances or selling off assets

Ford Motor not looking at alliances or selling off assets

Ford Motor’s new chief executive Alan Mulally has said in a statement that the company is not going to consider alliances or sale of big assets like the Jaguar brand for now.

Instead, they are working hard on turning around the loss-making company to attain profitability in their US operations.

He said: ‘All of the analysis concluded that the best value creation for Ford was to turn Ford around’.

This negates all the talks about a possible alliance with Renault and Nissan. Carlos Ghosn, chief executive of Renault and Nissan already has had similar alliance talks with General Motors, which failed.

Mulally also added that the company is considering changes to its board of directors after the departure of Robert Rubin, the former US treasury secretary.