The North America economy is in trouble. Is this economy in a recession? If all the economists do not agree on the answer, the householders have already started to suffer from the subprime crise.
As a result, the US luxury car sales decreased dramatically last month. Ford Group Vice President Jim Farley said "I'd like to be able to tell you the worst is behind us but I can't really say that. The second quarter may be the worst sales period of the year''.
Ford agreed to sell its two luxury car brands to the Indian Giant group Tata motors for $2.3 billion. Tata claims that he will keep the "the image, touch and feel" of the two marques.
This Indian acquisition of two UK luxury car brands, represents a significant development of the country and a whole symbol: This ex-UK colony generates now firms, which are able to buy up UK brands. But it does not shake Great-Britain, which is the European country that attaches less importance to the economic patriotism.
However, in a globalized economy where the capital does not have any borders, most of Europeans worry about the future of the European firm if the governments and the managers are no longer able to take care of the European interests.
Now the India's biggest industrial conglomerate should prove to the sceptics, its ability to handle with the production of trucks and the management of two luxury car brands.
If Ford's rating remains unaffected by sale of Jaguar and Land Rover (B/STABLE/B-3), Standard & Poor's Ratings Services lowered the credit rating of Tata Motors from BB+ to BB, as the result of Tata's increased debt ($3 billion loan to fund the deal with Ford).
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