Word: rovers
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Dates: during 2000-2009
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...cars have as much riding on them as the new, British-made Range Rover. As Land Rover's top-line model, the Range Rover has epitomized posh sports-utility vehicles since its 1970 debut, years before Lexus and BMW knew what SUVS were. And a lot is expected of a car that took five years and $1.4 billion to develop. But it looks as if the Range Rover - with a base price of $61,000 - can handle the pressure. Advance orders in Britain have hit 1,790, and production has been boosted 17% to 700 units a week even before...
...Ford Motor Co., which bought loss-making Land Rover from BMW for $2.6 billion in 2000, must be relieved. Especially since Ford, which lost $5.45 billion last year, is making Range Rover and other luxury European models central to its latest restructuring plan. By 2005, the U.S. automaker wants its Premier Automotive Group (PAG) - Land Rover, Jaguar, Volvo and Aston Martin, plus Lincoln, its upmarket American marque - to contribute 35% of its profits, up from a current 13%. To accomplish that, overall sales of the five brands must soar 51%. That's a tough goal, but PAG president Wolfgang Reitzle...
...touch, like electronics. Says Harry Roegner, PAG spokesman: "Electronic architecture makes up a third of the cost of a car, and in the future it will be 50%. Do you see that cabling and wiring?" In another economy move, Ford is consolidating the backroom operations of Land Rover, Jaguar and Aston Martin...
...company, which also includes Audi, some additional cachet. Under Piëch, Volkswagen commands 51% of the car market in China and 25% of sales in Brazil. Perhaps most important is what Piëch hasn't done: made expensive mistakes, as BMW did in buying British car-maker Rover and as Mercedes committed by acquiring U.S. giant Chrysler...
...slated to move up to the company's supervisory board this April. He will be succeeded as CEO by Bernd Pischetsrieder, who joined VW in 2000 after being forced out of rival BMW in the wake of the company's calamitous investment in Rover. With his insider knowledge of BMW's successful effort to create a high-end image, Pischetsrieder is expected to concentrate on brand building at VW, while trying to get the company's costs down. Some shareholders hope that he will also show more attention to the stock price than Piëch did. His comments...