It's already out.
Posted on 12/19/2007 6:18:50 AM PST by BGHater
Two of the most iconic names in British motoring – Jaguar and Land Rover – are set to be taken over by Indian industrialists.
The Tata group, whose interests include a chain of hotels responsible for some of the world’s finest Indian chefs, has emerged as favourite to take over the businesses.
Ford is set to announce the new owners of its two troubled premium car makers within weeks.
Should the Tata deal go ahead Jaguar and Land Rover will follow in the footsteps of MG, another erstwhile prestige British manufacturer, in falling into Asian hands.
The Tata group is now seen as the likeliest winner, despite competition from two rivals: Mahindra & Mahindra, another major Indian company best known for producing tractors and One Equity, a private finance group advised by Jac Nasser, the former head of Ford.
Tata’s bid has been endorsed by Unite, the union which represents the overwhelming majority of the 19,000 staff working at the Land Rover plant at Halewood, Merseyside and Jaguar’s factory at Castle Bromwich, near Coventry.
The union’s support flowed a presentation in which they received assurances about the future of production in the UK and the companies’ pension fund.
Tata’s interests are diverse. They include the luxury Taj group of hotels in India, regarded by many as the “Oxbridge” of Indian cuisine.
The conglomerate also now owns Corus, formally British Steel and Tetley Tea.
Tata is also a major vehicle manufacturer in India, producing a four-wheel drive at one end of the market and being on the point of unveiling the world’s cheapest car at the other.
The 1 Lakh car, which would sell for little over £1,000, is set to be unveiled at New Delhi motor show next year.
It has already alarmed Toyota, the world’s second largest car company, which is unsure how it will be able to compete with the new arrival.
While Tata has the industrial muscle to take over Land Rover and Jaguar, it will face major challenges in restoring both premium manufacturers to their former glory.
Splitting the two companies is not considered viable, given that they share around 1,000 components.
But there are already suggestions that Jaguar in particular could lose some of its cachet if it came under India ownership – at least according to some of the company’s American dealers.
Jaguar has enjoyed a slow recovery and is on the verge of becoming profitable. But major questions over its production remain.
While Tata has provided some reassurances to the unions, the weakness of the dollar could lead to some cars being made in the USA, which accounts for about a third of its market.
The Tata group has tried to provide reassurances that it would not tinker with the company or its ethos, amid fears that some damaging cuts could follow a take over.
But Ratan Tata, the head of the conglomerate, has tried to provide some reassurance.
“Out mandate is we don’t want to change the look and feel of a company,” he said in October.
“When Tata is done buying a company, it should look the same as before, except no it’s owned by someone in India.”
pretty soon england is gonna have to change its name. there wont be anymore english speakers or english owned businesses.
Ping
Isn't that the name of that club down by the airport?
I would argue that a good number of Indians speak English better than the English.
a k a
Memsaab Motors?
im sure thats true..but i was speaking in general. especially about tha tartice about 40 percent or so of the students in english schools dont speak the language. thats sad.
were not far behind. to be honest im tired of everything going spanish. every label, board, poster, sign i see nowadays has it in spanish right under it.
jus twatch. not too far off spanish will be a requirement for jobs and other such things in business.
Irony...could not be better defined.
I’m waiting for the debut of the Peruvian Rambler.
The Indians have been making Royal Infield motorcycles for about 20 years. Slowly they are being made oil tight, with electric start and other improvements.
That’s the Bodacious Tata group.
It's already out.
The EU has erased “England” from its proposed map of the European Union. The British Isles are simply divided up into different governmental sub units.........
will you settle for an Argentine Ford Falcon?
the Argies bought the entire Falcon assembly line and made it into the early 1990s... looks pretty close to the original - bigger taillights, a more modern interior, a more modern grille, but the body is the still the old sixties ford falcon!
they even made a *diesel* version of the Enfield!
Yeah. I’m sure a diesel Jag will be next...
they sucked already......and I’ve owned several of both.....the latter LRs are moneypits
my impression with Indians in business has been 100% negative
my impression with them in medicine has been about 50/50
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