Ford may be considering sale of Mazda stake
Sunday, October 12th, 2008 by admin
The financial peril that currently faces the U.S. domestic automakers is no secret, and according to Wall Street Journal report published yesterday, Ford is mulling over the possibility of unloading at least part of its controlling stake in Mazda to raise cash. Japanese media, via the AP, said that Ford would likely keep some interests in the Japanese automaker after such a move — no surprise when you consider how closely tied Ford and Madza are right now in terms of shared technology. The Oval’s third-quarter numbers are expected to be pretty ugly, and the Journal’s source said that the potential sale of its Mazda holdings is one of many moves reportedly under consideration as Dearborn looks for ways to add to its cash on hand. For its part, Mazda denies that any decision has been made (a non-denial, really — no outlets reported that a deal had yet been completed) and Ford weighed in with a to-be-expected “no comment.” As they say, to be continued…

As is well known by now, Ford and Navistar have parted ways and the Blue Oval is developing diesel engines in-house to replace the PowerStroke lumps still being used. Slated to appear in Ford’s trucks by 2011, the new oil burner code-named Scorpion is a 6.7-liter V8 with a host of innovations, some of them seemingly borrowed from cross-town rival GM.





