Comment on the following scenario :
Trying to keep on the road
Ford Motor put Aston Martin up for auction on Thursday as the troubled US carmaker began dismantling its stable of British luxury brands in the face of deep losses in its home market. Ford has appointed an investment bank to handle the sale of the famous brand, for which it is understood to have pencilled in a price of more than $2bn - far higher than the value put on it by financial analysts. It is already in early talks with ‘interested parties', Ford said, although it could retain a minority stake. The sale comes as Ford is considering which other brands it should sell to fund restructuring and reduce losses at Premier Automotive Group, its luxury car unit, which lost $162m in the second quarter. The luxury division was supposed to break even this year after losing $100m last year but Ford warned in July that it would again make a loss. Aston Martin, famous for sports cars driven by James Bond in films such as Goldfinger and Thunderball never made a profit until 2005, Ulrich Bez, chief executive, said this year. Ford took a controlling stake in 1987 and sales have increased from 46 units in 1992 to 4,500 last year.