TROUBLED US auto giant Ford said overnight it was looking to sell Aston Martin, the noted British sports carmaker immortalised by fictional superspy James Bond.
The loss-making Detroit company said it wanted to free resources for its other auto badges, and said that prospective buyers had already come forward for the legendary British marque.
Chairman and chief executive Bill Ford said that Aston Martin had "flourished" since it became part of the US group in 1986, "which is why we believe it is prudent to consider a sale of all or part of this prized brand".
Ford has not yet decided on the future of Aston Martin's stablemates in the company's Premier Automotive Group (PAG), including luxury carmaker Jaguar, Mr Ford said.
"However, we continue to be encouraged by Jaguar's progress and by the strength and consumer appeal of the Jaguar, Land Rover and Volvo product lineups," he said.
JCB, the British maker of heavy construction vehicles, said last week that it was interested in buying the loss-making Jaguar, which analysts have said is the obvious choice for Ford to divest.
A sale of Aston Martin, whose latest DBS model will feature in the next 007 movie Casino Royale, was not so widely predicted. But Ford is battling to revamp its operations as it suffers hefty losses in income and market share.
Mr Ford said the British unit's dealer network, products and size were all distinctly different from other Ford brands, making it "the most logical and capital-smart divestiture choice".
Any sale would enable Ford "to efficiently raise capital for its other brands", he said.
A spokesman for Ford's PAG division in London, John Gardiner, said "we do have a number of confidential parties that are interested" in Aston Martin, but offered no details.
Analysts cited interest in PAG brands from a group of private investors including former Ford chief executive Jac Nasser. Chinese and South Korean manufacturers are also rumoured to be interested in Aston Martin.
Aston Martin, which makes about 4500 cars a year, says that in 2005 it posted its first profit in 40 years.
Ford itself does not release individual financial results for nameplates such as Aston Martin. But in the second quarter ended June, the PAG division reported a pre-tax loss of $US162 million ($212 million), from a small profit a year ago.
The company as a whole lost $US1.45 billion ($1.9 billion) in the first six months of the year, compared to a profit of $US2.1 billion ($2.75billion) in the same period of 2005.
Ford's share price closed overnight 1.21 per cent higher at $US8.37 dollars.
The carmaker is expected shortly to announce deeper changes beyond the closure of 14 plants and the loss of 30,000 jobs it already anticipates.
Aston Martin, which traces it roots to 1913, is headquartered in the English Midlands. It employs about 1000 people in design and manufacturing, according to Ford.
While never losing its celebrity glamour or a special cachet among auto afficionados, the group has often been strapped for cash down the years.
It went through a bewildering series of owners in the 1970s and 1980s before Ford took a majority stake in 1986 and then full control seven years later.
Ford has invested substantially in Aston Martin, whose models including the 270,000-dollar Vanquish S now use components shared with other parts of the US automaker's empire.
"If you look at the PAG group, Aston Martin is the least truly integrated into the Ford system in terms of the dealer network and all that goes with it," said Brett Smith, senior industry analyst at the Centre for Automotive Research in Ann Arbor, Michigan.
"Ford is going to get less than it's probably worth, certainly less than they've put into it over the years," he added.
"Buyers know that Ford's in trouble and are going to drive a pretty hard bargain. Also these PAG brands have lost some of their lustre in recent years."
