GENEVA (AP) — A Ford Motor Co. spokesman said Tuesday that there were ''no major roadblocks'' to an expected deal on the sale of Jaguar and Land Rover to India's Tata Motors Ltd. — but added that an announcement will have to wait.
''I wouldn't look for anything this week,'' said Ford spokesman John Gardiner. ''We're still saying early 2008.''
He said there were ''no major roadblocks'' and would not discuss details of what issues are on the table.
Jaguar managing director of Jaguar Mike O'Driscoll called the negotiations between Ford and Tata ''focused,'' but declined to comment on their status.
''We're delighted with the negotiations and with the prospects ahead. We will have the opportunity to go on rebuilding Jaguar and building beautiful cars,'' O'Driscoll said on the sidelines of the auto show.
''I think Tata Motors is interested in Jaguar and Landrover because they are two great brands. Look at the heritage, at the customers we have, the spirit of the brand. ''
He said the deal could give Jaguar access to new markets, noting that it already is moving into China.
Cash-hungry Ford, which lost US$2.7 billion (euro1.8 billion) last year and $12.6 billion in 2006, has been looking to sell Jaguar and Land Rover for months to help fund the turnaround of its Ford, Lincoln and Mercury brands.