Giant automobile company Ford has decided to sell three of the very popular cars of its kitty- Marques, Jaguar and Land Rover, according to BBC. BBC reported to find that Ford told few politicians about the move which is yet to be announced.

This measure comes as the giant is cutting cots very aggressively. According to BBC business editor Robert Peston Ford disclosed this information to some MPs.

In last March Ford sold Aston Martin, a sports car firm. The deal got Ford $924 million.

Private equity firms are expected to cash on this opportunity.

This move is the result of the restructuring that is taking place in Ford. Ford is making losses and to offset the losses it is on restructuring mode right now. Ford has faced a loss of $282 million for the first quarter of this year. Though the loss is lesser than the last year for the same period, but this loss has made changes on its policy and act. It may try to shed it off with separating non performing firms, cars and models.

Due to competition, it is losing market and profit. Asian manufacturers are offering tough competition to this automobile behemoth. Other manufacturers are making better cars which are fuel efficient. They are doing better than the ford cars.

Ford acquired both Land Rover and jaguar. It got Jaguar in 1989 and Land Rover in 2000 in its kitty. Both of these are not performing well. So they may also end of being sold to others.

Source: BBC