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Ford to ditch Aston Martin

Ford is considering the sale of its luxury sports car brand, Aston Martin.

The company made the announcement after a strategic review of its business, in which Bill Ford, chairman and chief executive said it would be an ‘attractive opportunity to raise capital and generate value’.

Sister-title to AM, CAR magazine, has rumoured Swiss-based Richemont and the French holding company LVMH, the company behind Luis Vetton and Moet champagne, are the leaders in the race for the slick sports brand.

Ford said Aston Martin was the most logical choice for sale due to its dealer network's difference in size and design from other PAG brands (Volvo, Jaguar and Land Rover).

Dave Osborne, Transport and General Workers’ Union (T&G) national secretary for the car industry, said: "We understand that consideration of the sale of Aston Martin is part of Ford's strategic review, where all options are on the table but no decisions have yet been made. Aston Martin is an iconic brand and is rightly prized by Ford.

"While the future for Aston Martin is under review, our priority remains as always the safeguarding of members' jobs."

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