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Premier Automotive Group AI simulator
(@Premier Automotive Group_simulator)
Hub AI
Premier Automotive Group AI simulator
(@Premier Automotive Group_simulator)
Premier Automotive Group
33°39′26″N 117°44′55″W / 33.6573338°N 117.7485857°W
The Premier Automotive Group (PAG) was an organizational division within the Ford Motor Company formed in 1998 to oversee the business operations of Ford's high-end automotive marques. The PAG was gradually dismantled from 2006 to 2011 with the divestiture of its constituent brands.
The Premier Automotive Group was formed in 1998 under then-CEO Jacques Nasser and grew to include the Lincoln, Aston Martin, Jaguar, Land Rover and Volvo brands. Forbes estimated that, by 2004, Ford had spent $17 billion building on acquisitions to form PAG.
In 2002, Lincoln returned to Ford's direct control. Lincoln's headquarters had been merged into PAG's North American office, where it was run by a German executive based in London, England.
The four other marques in the Premier Automotive Group (Aston Martin, Jaguar, Land Rover, and Volvo) operated as distinct companies with separate markets and dealer networks, which limited potential synergies within the division. Ford encouraged the brands to share parts and engineering to reduce costs, but this sometimes resulted in vehicles that were criticized for resembling mass-market Ford models. The Jaguar X-Type, for example, shared its platform with the Ford Mondeo and was seen as insufficiently distinct. Volvo, which had been successful in the United States as an independent entry-level luxury brand, lost market share during its time in PAG to German manufacturers such as BMW and Mercedes-Benz, which had expanded their lower-priced luxury offerings.
When Alan Mulally became president and CEO in September 2006, he oversaw Ford's dismantling of the Premier Automotive Group. In 2007, Ford sold 92% of Aston Martin to a consortium of investors headed by David Richards. In September 2006, the rights to use the defunct Rover brand name had been secured from BMW by Ford to protect the Land Rover brand. In March 2008, Ford sold Jaguar and Land Rover to Indian carmaker Tata Motors. In 2010, Ford sold the Swedish brand Volvo Cars, the last of the PAG brands, to the parent of Chinese carmaker Geely for $1.8 billion.
The Premier Automotive Group headquarters were located at 1 Premier Place in Irvine, California. It is next door to the Mazda North American Operations office, and is now the main office for Taco Bell.
The Premier Automotive Group office in the United States was completed in 2001 at a cost of $68 million. It was the first Ford building and the first building in Orange County to qualify for Leadership in Energy and Environmental Design classification from the U.S. Green Building Council. When the headquarters first opened, some of its floors were each specifically dedicated to one of PAG's brands. The complex also included a separate 90,000-square-foot (8,400 m2) product development centre. In late 2008, a deal was announced to lease the former PAG headquarters building in Irvine to the Taco Bell restaurant chain. Although Ford planned to leave a small product development staff on the property, this was widely seen as the end of the PAG story and an ironic comment on the expensive failure of Ford's luxury-car strategy. The New York Times asked dryly, "Will they install a drive-up window?"
Premier Automotive Group
33°39′26″N 117°44′55″W / 33.6573338°N 117.7485857°W
The Premier Automotive Group (PAG) was an organizational division within the Ford Motor Company formed in 1998 to oversee the business operations of Ford's high-end automotive marques. The PAG was gradually dismantled from 2006 to 2011 with the divestiture of its constituent brands.
The Premier Automotive Group was formed in 1998 under then-CEO Jacques Nasser and grew to include the Lincoln, Aston Martin, Jaguar, Land Rover and Volvo brands. Forbes estimated that, by 2004, Ford had spent $17 billion building on acquisitions to form PAG.
In 2002, Lincoln returned to Ford's direct control. Lincoln's headquarters had been merged into PAG's North American office, where it was run by a German executive based in London, England.
The four other marques in the Premier Automotive Group (Aston Martin, Jaguar, Land Rover, and Volvo) operated as distinct companies with separate markets and dealer networks, which limited potential synergies within the division. Ford encouraged the brands to share parts and engineering to reduce costs, but this sometimes resulted in vehicles that were criticized for resembling mass-market Ford models. The Jaguar X-Type, for example, shared its platform with the Ford Mondeo and was seen as insufficiently distinct. Volvo, which had been successful in the United States as an independent entry-level luxury brand, lost market share during its time in PAG to German manufacturers such as BMW and Mercedes-Benz, which had expanded their lower-priced luxury offerings.
When Alan Mulally became president and CEO in September 2006, he oversaw Ford's dismantling of the Premier Automotive Group. In 2007, Ford sold 92% of Aston Martin to a consortium of investors headed by David Richards. In September 2006, the rights to use the defunct Rover brand name had been secured from BMW by Ford to protect the Land Rover brand. In March 2008, Ford sold Jaguar and Land Rover to Indian carmaker Tata Motors. In 2010, Ford sold the Swedish brand Volvo Cars, the last of the PAG brands, to the parent of Chinese carmaker Geely for $1.8 billion.
The Premier Automotive Group headquarters were located at 1 Premier Place in Irvine, California. It is next door to the Mazda North American Operations office, and is now the main office for Taco Bell.
The Premier Automotive Group office in the United States was completed in 2001 at a cost of $68 million. It was the first Ford building and the first building in Orange County to qualify for Leadership in Energy and Environmental Design classification from the U.S. Green Building Council. When the headquarters first opened, some of its floors were each specifically dedicated to one of PAG's brands. The complex also included a separate 90,000-square-foot (8,400 m2) product development centre. In late 2008, a deal was announced to lease the former PAG headquarters building in Irvine to the Taco Bell restaurant chain. Although Ford planned to leave a small product development staff on the property, this was widely seen as the end of the PAG story and an ironic comment on the expensive failure of Ford's luxury-car strategy. The New York Times asked dryly, "Will they install a drive-up window?"