Tuesday, February 26, 2008
Land Rover and Jaguar Deal Set To Close Next Week
Next week, Ford will officially be saying ba-bye to its Land Rover and Jaguar. That is according to reports published in Reuters. As reported earlier this year, Indian automaker Tata Motors won the bidding called by Ford Motors to solve its fiscal crisis, although until now, Ford authorities have not confirmed the news yet.

It is expected that between March 5 and 6, the two automakers will finally announce the results of their agreement regarding the fate of these two luxury car brands in order not to spoil the publicities about the all-new Ford Fiesta at the Geneva Auto Show. Another perceived reason for the delay was the issue about Tata’s engine sources once it gets the Jaguar and Land Rover’s ownership. Questions arise whether the Indian company will still be sourcing the engines and other systems from Ford’s British plants.

In January, it was rumored that the Land Rover and Jaguar dealership cost Tata some $2 billion but because it considers the deal as another giant step towards captivating the international auto market, it came out as the frontrunner in the crucial bidding process joined in by rival Mahindra Motors.

If we shall recall, Ford purchased Jaguar in 1989 for £1.6 billion and owned it for 17 years.

posted by Car Addict @ 2:21 AM  
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