Ford’s luxury Premier Automotive Group is expected to make a profit for 2007, executive vice president Lewis Booth said in a briefing with Reuters. The PAG is made up of Volvo, Jaguar, Land Rover, and Aston Martin. Jaguar has been the main culprit behind lackluster profits in the group, but that’s expected to change thanks to a radical new approach to their cars, which was showcased with the C-XF concept.

Losses for the PAG group amounted to US$344 million in 2006, so it’ll be an impressive turn of events if it does manage to make a profit. Volvo has been doing particularly well lately, and with Aston Martin’s imminent sale Ford will be able to add upwards of $865 million to its war chest for the other brands. Despite calls for the sale of Jaguar, Ford will follow through with one last chance for the ailing marquee to redeem itself.