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Ford Looks To Tata For Cash

 

by Stephen Walker

 

7th January, 2008

2003 Tata TL single-cab utility from India

Lewis Booth, executive vice president – Ford of Europe and Premier Automotive Group (Chairman – Jaguar, Land Rover, Volvo and Ford of Europe) has indicated: “Ford is committed to focused negotiations at a more detailed level with Tata Motors concerning the potential sale of the combined Jaguar Land Rover business.”

"There is still a considerable amount of work to do and while no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned."

This statement confirms the intense speculation in England that Tata Motors, the Indian based vehicle manufacturer, is the leading contender for Ford's British based Jaguar and Land Rover operations which have been quietly (but well known within the industry) for sale for many months.

The motivation for the sale is Ford's strong desire for cash to fund the continuation of the business which has incurred massive losses in recent times.

Tata (whose ute is shown above) has managed to gain an advantage over other bidders, who include Mahindra & Mahindra (also from India) and US based private equity funds.

Speculation suggests Tata, if they complete the Jaguar and Land Rover acquisition, will maintain production of the British marques in England for the foreseeable future.

The interest expressed by two leading Indian vehicle manufacturers confirms the obvious strength of the Indian vehicle manufacturing industry and suggests that India will be a market of significant interest in coming years.



Other Ford content: here.

Tata content is: here.

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