The Premier Automotive Group (PAG), was an organizational division within the Ford Motor Company formed in 1999 to oversee the business operations of Ford's high-end automotive marques.
The Premier Automotive Group grew to include responsibility for the Lincoln, Mercury, Aston Martin, Jaguar, Land Rover and Volvo brands. Lincoln and Mercury were returned to Ford direct control in 2002. In 2004, after Ford had spent (by one estimate) $17 billion building PAG, Forbes Magazine questioned the purpose of the group.
When Alan Mulally became Ford's CEO in September 2006, the Premier Automotive Group began to be dismantled. Ford sold 85% of Aston Martin to a consortium of investors headed by David Richards in 2007. In September 2006, the Rover brand was secured from BMW by Ford to protect the Land Rover brand. In March 2008, Ford sold Jaguar and Land Rover to Tata Motors of India. In 2010, Ford sold Volvo Cars, the last PAG brand, to the parent of Chinese carmaker Geely for $1.8 billion.
Read more about Premier Automotive Group: Group Structure
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