Ford needs money from Jaguar, Land Rover sale

Ford is trying to sell its Jaguar and Land Rover units to raise needed cash and it is too soon to say if it would keep a stake in either luxury vehicle unit, the head of Ford’s European operations said today.

“We’re selling the business because we need the money and we need the focus,” Lewis Booth, executive vice president of Ford’s European units, said during a webcast from the Frankfurt motor show.