Categories
General

Ford sells Aston Martin

Aston Martin logo

After months of speculations as to whom will the luxury car brand be sold, finally had a new owner. Ford Motor Company sold the firm to a UK based consortium for £479m ($924m). It takes Aston Martin back to Britain, after a two decade of ownership under Ford. The iconic car maker is well known for the Aston Martin Vanquish & Aston Martin DB9 cars and also famous for being the car of the spy James Bond in the series by Ian Fleming. The consortium which bought the controlling stake in the firm is led by David Richards, boss of motorsport firm Prodrive, and some Kuwaiti investors as well. This should do a great deal of help to Ford, who is in deep financial trouble recently. The American car maker reportedly lost more than a whooping $12bn last year. Even for Aston Martin its a good cause as the company is secured, and with David Richards at the cause, the company will be active in motorsports. David Richard’s Prodrive firm won a place in the 2008 Formula One Season, fighting off some other constructors to secure the only seat. Prodrive is also active in the World Rally Championship as the Subaru World Rally Team.

ASTON MARTIN HISTORY
1913: Founded by Lionel Martin and Robert Bamford
1975: Sold to American owners
1987: Ford buys 75% stake
1994: Ford takes full control
2005: Record 4,500 sales
2006 – Ford puts Aston Martin up for sale with price tag of $1bn
2007: Sold by Ford to a UK-led consortium

By Rohit

I'm a simple guy, love Formula 1(Ferrari), football (Manchester United), love computers, gaming, learning multimedia.

Leave a Reply

Your email address will not be published.