Did you know Trivia - Ford stands to make around £700m from the sale of Jaguar and Land Rover (JLR) - a fraction of the price the US giant paid for them. India's Tata confirmed yesterday that it was paying $2.3bn (£1.15bn) cash to buy the two luxury carmakers, but that Ford would inject £300m into JLR pension funds.

While the deal was welcomed by trade unions, engineers and industry experts as the best outcome for JLR, it marks a major retreat from the luxury sector for loss-making Ford, which wants to concentrate on its US core volume car business.
Ford bought Jaguar in 1989 for $2.5bn and Land Rover in 2000 for $2.73bn as part of a European-luxury strategy that began with the purchase of Aston Martin in 1987. Aston was sold last year. Ford said yesterday that, under the deal with Tata, it would continue to provide financing for JLR dealers and customers for up to another 12 months.

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