Ford Motor Co. spared its luxury car headquarters in Irvine from job cuts in its announcement Friday to trim 10,000 jobs and close two plants in a bid to end losses and remake itself.
Irvine-based Premier Automotive Group includes Aston Martin, Jaguar, Land Rover and Volvo. The Irvine operation reports to Ford’s worldwide headquarters for its European brands in London.
Ford previously said it is considering selling Aston Martin. But officials said Friday the other brands aren’t on the block, despite several recent reports of offers for all or part of the unit.
“The assets of Premier Automotive Group are not being sold,” a spokesman said.
Bids have come from the private equity arm of JPMorgan Chase & Co. and a British executive who indicated interest in buying Jaguar.
On a Friday conference call, Mark Schulz, president of Ford’s international operations, flatly rejected rumors that it might sell Jaguar or Land Rover.
Ford is open to a partnering deal for the brands, a spokesman said. Volvo is off the table, he said.
The automaker continues to weigh options for its Aston Martin unit. Ford is looking to sell all or part of the British sports car maker.
Aston Martin might not see much change under a private equity buyer, a spokesman said.
“The impact here in Orange County is that it is quite possible that Aston Martin never leaves this building,” he said.
Ford said Friday it plans to cut more than 10,000 salaried jobs, offer buyouts to all of its 75,000 U.S. hourly workers and shutdown two more plants.
