Though Mazda’s lent Ford more than a lending hand in developing new vehicles (need we remind you about the Fusion’s underpinnings?), a Japanese newspaper suggests the subsidiary could be placed for sale.
The Nikkei reported this morning that Ford Motor Company may be planning to sell most, if not all, its stake in Mazda Motor Corporation.; The story suggests Ford is interested in whittling its 33.4 percent stake in the automaker to a miniscule 13.4 percent.s
If sold, the profits could help Ford’s present situation.; Falling sales in North American, coupled with the world-wide credit crisis, have helped the firm’s sales figures (and, subsequently, its stock prices) fall.
Ford CEO Alan Mulally told Reuters yesterday that filing for bankruptcy “makes no sense to us” and that Ford is focused on managing its finances “very, very carefully.”
Though Mulally spared reports on the specifics, the sale its stake in Mazda certainly seems like a possibility.
“Our relationship with Mazda has not changed,” said Ford spokesman Mark Truby. “Nothing has been declared.”
Both the Japanese trading company Sumitomo Corporation and Indian automaker Tata Motors – which bought Jaguar and Land Rover from Ford earlier this year – could be potential suitors for the Mazda stake.
Should a sale be completed, Nikkei reports that Ford and Mazda would continue its multiple joint ventures.
Source: Automotive News