12-21-2007, 12:26 AM
Report: Tata will buy Jaguar, Land Rover
Automotive News | December 20, 2007 - 2:48 pm EST
India's Tata Motors will be named Friday, Dec. 21, as the winning bidder in the auction for Jaguar and Land Rover, according to a report in Britain's Birmingham Post newspaper.
Tata will pay £1 billion, or about $2 billion, for the two Ford Motor Co. luxury brands, said the newspaper, which is based near Jaguar and Land Rover's home in the English midlands.
Ford plans no announcements regarding the sale of the two British luxury brands, said Ford spokesman Mark Truby. He said the U.S. automaker is still on track to announce the sale of Jaguar and Land Rover early next year.
12-21-2007, 12:28 AM
"This may NOT be just a nasty rumor. Ford may indeed sell these brands. Even though they said they wouldn't"
12-21-2007, 12:49 AM
I just found this, too:
Lesson: Do NOT underestimate the little guy.
Tata Motors to unveil world's lowest priced car
Automotive News | December 19, 2007 - 5:45 am EST
MUMBAI -- Tata Motors, which is considered a front-runner to buy Ford Motor Co.'s luxury Jaguar and Land Rover brands, will unveil the world's lowest priced car at an auto show in India next month.
Tata Motors, India's third-biggest auto marker, will showcase its $2,500 car at the Auto Expo in New Delhi on Jan. 10, with a commercial launch planned for later in 2008.
The company has promised to sell the car for 100,000 rupees ($2,500) although some analysts say high raw material costs may push the price of the "people's car" closer to $3,000.
India's Bajaj Auto, Renault and Nissan are looking into the feasibility of making a $3,000 car.
Indian media reported on Wednesday that Tata Motors, valued at $6.8 billion, has offered $2.05 billion for Ford's brands.
Ford, which is spinning off the British luxury brands to focus on restructuring its loss-making North American operations, is expected to close the sale of Jaguar and Land Rover in the first quarter of 2008.
12-21-2007, 02:15 PM
This is not good news for anyone but Tata. I still cannot believe Ford threw in the Towel.
I beleive if they had paired Jaguar, Lincoln and Auston Martin and probably brought the Defender to America, with the Land Rover sharing parts with the Exellent Ford Trucks division, they could have kept those brands.
There is nothing Tata can do to sell more without watering down the brand or moving the production to India.
12-21-2007, 02:31 PM
I suppose if it were 1999 again, and Explorers wer selling at the rate they were then and with few to no incentives they could have toughed it out. I don't think the company can afford to loose all those millions per day on Jaguar anymore. Perhaps LR had to go with it to make the deal attractive to anyone (?). The XF, just by virtue of being recognizably new, will sell well enough. But even that would not have made the enterprise a money maker with the problem of the X and XJ selling at such low volumes (even for a Jag).
12-29-2007, 03:38 PM
All these companies in Asia buying these prestige brands reminds me of a line from a science fiction story, the name of which eludes me at the moment,"The Arabs built pretty good Rolls-Royces until the money ran out...".