Jaguar Land Rover not for sale

Jaguar Land Rover not for sale

June 25, 2019 0 By autotimesnews

As is known, the company is currently experiencing a financial crisis, but does not consider the possibility of a merger. This was announced by the CEO of Jaguar Land Rover Ralph Speth.

He confirmed that the difficult period for the manufacturer happened for three main reasons. These include the decline in sales of diesel models in the European market, large-scale investments in the expansion of production in the UK at foreign factories, as well as the cost of developing electrified models.

Nevertheless, Speth positively assesses the future of Jaguar Land Rover: “Today everything is very simple. Jaguar Land Rover is not for sale. We are the property of the Indian company Tata. That is how it will remain. Tata, along with Jaguar and Land Rover, is the leader in the production of cars that have received a total of six World Car Awards in the last 3 years. ”