Ford is keen to offload Jaguar and Land Rover from its Premier Auto Group but finding a buyer for the British carmakers is proving to be a difficult task. Officials originally set September 30 as the final date for all potential bids to come in but this was quickly extended by two weeks after it was revealed there was a downturn in the credit market. Now the deadline has slipped again, with the new date set for early next month.
Of concern to bidders, who are spending millions of dollars researching the financials of Jaguar and Land Rover, is the possibility that Ford may not even sell the labels, according to the Financial Times.
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