Ford said today it was trying to sell its Aston Martin luxury unit to free up funds to invest in its other brands amid a sharp downturn in sales.
Ford said there was no assurance that its decision to explore strategic options for Aston Martin would result in a sale of the British carmaker.
In Europe, a spokesman for Ford's luxury brands said potential buyers had already approached the company about a deal. He declined to provide details.
Ford's portfolio of European-based luxury car brands has fallen short of the automaker's optimistic projections from several years ago. The Aston Martin unit lost $162 million in the second quarter, just as a downturn in US sales of trucks and sport utility vehicles hit Ford's most important market and product line.
Ford's US sales, including its luxury brands, dropped almost 10 per cent in the first seven months of the year, and the company is preparing an accelerated turnaround plan due next month and expected to include faster job cuts and plant closures.