It's a done deal. Tata now owns Jaguar and Land Rover, as official word of the sale was just announced. The deal nets Ford, the former owner, $1.7-billion, which is roughly one third of what they paid for the two luxury brands.
"This is a momentous time for all of us at Tata Motors," Tata Chairman Ratan N...
Tata said in a statement. "Jaguar and Land Rover are two iconic British brands with worldwide growth prospects. We are looking forward to extending our full support to the Jaguar Land Rover team to realize their competitive potential."
Full story here.
Here's Inside Line's take: Ford Hands Over Jaguar Land Rover to Tata
Full story here.
Here's Inside Line's take: Ford Hands Over Jaguar Land Rover to Tata
ateixeira says:
08:54 AM, 06/ 2/08
They named former CFO David Smith as the new CEO for both companies.
Smart move letting someone familiar remain at the helm, IMO.
firstwagon says:
05:34 PM, 06/ 2/08
One good thing about Tata is we won't be seeing a bunch of rebadged Tata models pretending to be Jaguars.... unlike Ford.
brn says:
05:50 AM, 06/ 3/08
firstwagon, I assume you're talking about the x-type. That vehicle was praised when it first came out.
Ford is the only reason Jag makes a halfway decent car today.
firstwagon says:
04:58 PM, 06/ 3/08
I don't remember a lot of people praising it.
A front drive Jag with an engine from the Escape and everything but the trim from a mid level Ford family sedan.... the perfect Jaguar for people who just want the look and the nameplate.
Ford's MONEY is the reason Jaguar is making good cars, not Ford parts.
cah11705 says:
04:24 AM, 06/ 4/08
yea we finally have two good looking good driving and popular jags in the xf and xk
we do have ford to thank for that though some small aspects we can blame for for(cost cutting on each car)