Ford Motor Co is dumping its Jaguar and Land Rover brands in order to concentrate on its lagging American operation. So far, the lucky winner is looking to be India's Tata Motors. The winning bid is expected to be about 1 billion pounds ($2 billion).
"Tata is the front-runner in a race that includes Mahindra & Mahindra, a fellow Indian car group, and One Equity, the American buyout group.
Tata is set to roll out a 100,000 rupee ($2,400) â€œPeople's Carâ€ next year.
If Ford chooses Tata, it will be an historic moment for the car industry, marking the first time that a major Western car group has been bought by an Indian company."
Implications - The face of today's market is rapidly changing, with technology making the world a very small place. Thus, companies must look to other ethnicities and cultures for success, as multiculturalism takes over North America.