For the first time Ford named possible candidate for Jaguar/Land Rover bid and now heads final negotiation with Tata
Is the Indian company Tata now the new owner of Jaguar and Land Rover? That is the question we have been asking since Ford announced both company’s for sale in June, 2007. Now there is a ray of light as Tata has emerged in front of compatriot Mahindra, and American financial group One Equity. According to Automotive News, quoting Ford of Europe’s Chairman Lewis Booth, the American group has entered “focused and detailed negotiations” that aim to see Tata finally as the new boss in Coventry and Gaydon, England. Taking into account this statement, it is obvious the two companies are now just clarifying the details of the deal. As a matter of fact Booth’s statement is the first time Ford names with certainty a candidate for Jaguar and Land Rover.
Of course it is too early to consider Tata deal as a bargain, or any long-term negative effects on the British companies. However, Ford needs immediate cash to overcome losses, and Tata seeks to play the global game with Jaguar/Land Rover under its wings. For sure, Ford is losing two of the biggest brand names in auto history that ironically are now growing with fresh products such as the all new Jaguar XF, the XK, and the Land Rover Freelander II.