Car News News

Not For Sale! Says Jaguar Land Rover

Written by Nizam Shaikh

A couple of months back it was being speculated by some that Jaguar Land Rover owned by Tata Motors of India was going through a difficult time and that the PSA group has shown interest in buying the brand, but now it is being reported that the brand is not for sale. The manufacturer’s car sales have declined due to the lessening popularity of the diesel engines and also the losses accumulated due to the multi-billion-dollar spending on future vehicles. Also, it is being reported that the falling sales in China and the Brexit related issues are to be blamed.

Jaguar Land Rover needs to raise approximately USD 1 billion in 14 months to replace the maturing bonds and fund investment into electric vehicles. Jaguar Land Rover owner Tata Motors has denied speculation that it is considering selling off its two British car manufacturers to the French PSA group.

On the other hand, the PSA group has been open about considering deals with the Fiat Chrysler Automobiles (FCA), General Motors and Jaguar Land Rover (JLR). The PSA group has purchased the Opel/Vauxhall group from General Motors in 2017 and made it profitable.