Head of Jaguar Land Rover says the company is not for sale

Head of Jaguar Land Rover says the company is not for sale

June 24, 2019 0 By autotimesnews

The British luxury car maker Jaguar Land Rover is experiencing a financial crisis, but retains its status quo.

These days, talking about car mergers seems like a hot topic. Only this month, we heard that the Italian-American concern FCA terminates a merger deal with the French brand Renault, a merger that ended for political reasons.

The CEO of the British automaker, Dr. Ralph Speth, acknowledged that the company is indeed going through a difficult period, but one fact remains – the British company is not for sale.

The confirmation came from an interview with Dr. Speth with an Auto Express journalist at an event dedicated to the Jaguar I-Pace electro-crossover (see photo), which won three World Car Awards.

Despite this award, JLR faces financial drought due to three reasons: the decline in sales of diesel cars in Europe, the cost of building cleaner engines, as well as large-scale construction work and investment in foreign factories.

Despite this, Dr. Speth positively assesses the future of JLR. “Today everything is very simple. Jaguar Land Rover is not for sale, ”he said. He is also firmly affiliated with Tata. “We are the property of Indian Tata. That is how it will remain. Tata, along with Jaguar and Land Rover, is the leader in leading products, receiving a total of six World Car Awards in the last three years, ”he said.