This is despite one report saying they saw a “post-sale integration” document.
Once again, the minders of UK carmaker Jaguar-Land Rover have come out to deny the likelihood of JLR being sold to French auto conglomerate Groupe PSA, shooting down a report from a UK press agency claiming that the two firms are well into talks on the subject.
UK-based newswire Press Association claimed that PSA & Tata Motors (the parent company of Jaguar-Land Rover) are investigating cost savings & integration opportunities, with a “post-sale integration” document sighted. Such a document, sources say, would not be formulated unless discussions had reached relatively advanced stages. PA backs this up with an unidentified source telling them that negotiations between Tata & PSA are progressing quickly.
To that end, Tata had this to say:
“As a matter of policy, we do not comment on media speculation. But we can confirm there is no truth to these rumours.” – Statement, Tata Motors
This statement reiterates what JLR boss Ralf Speth said in an interview that:
“There is no question that the Tatas are giving Jaguar-Land Rover their full support. Ratan Tata [chairman-emeritus of Tata Sons] personally, and the Tata Group, are very closely tied to JLR.” – Ralf Speth, Chief Executive Officer, Jaguar-Land Rover
Further backing this up is the fact that PSA head honcho Carlos Tavares has expressed the desire to spread PSA’s wings in North America, which suggests that the company would be more willing to take over/merge/partner with brands that are more widely accepted there. While JLR does indeed sell cars in North America, they don’t have nearly as much volume as say General Motors or Fiat-Chrysler, with rumours circulating that both are being sized up by Tavares for acquisition.
This writer’s head is being done in by the fact that the global automotive press jumped on this story, that Press Association UK ran from one source that cited an unsighted document and an unidentified source within JLR. The preceding evidence has made clear that Tata & JLR will not separate in the near future, and that Groupe PSA will focus State-side for the time being. How hard was it to just shrug this story off?