PSA Peugeot-Citroen is considering buying a Jaguar Land Rover

PSA Peugeot-Citroen is considering buying a Jaguar Land Rover

April 9, 2019 0 By autotimesnews

The head of PSA Peugeot – Citroen, Carlos Tavares, announced his interest in buying a luxury brand. In an interview with Autocar India, he admitted that he would consider the possibility of a merger with Jaguar Land Rover or even a takeover of a British company.

Traditional brands of the French concern are Peugeot and Citroen, as well as the premium subbrand DS. In 2017, the French automaker also swallowed the German Opel, which had previously been part of General Motors.

Since 2008, Jaguar Land Rover is owned by Indian Tata Motors. The former owner was Ford, which had to sell several of its wards brands against the backdrop of the financial crisis of 2007-2009.

As told by Carlos Tavares, PSA Peugeot – Citroen is open to offers to buy premium brands and “is considering all possibilities.”

At the same time, Tavares acknowledged that he had not yet negotiated with Tata Motors, that is, everything voiced is just his personal assumptions.

Recently, things Jaguar Land Rover are not going so smoothly: only in the last fiscal quarter of 2018, the company declared a loss of 3.9 billion euros. And although most of this amount (3.6 billion euros) is associated with a one-time revaluation of capital investments, that is, it may formally not be taken into account in the current balance, the manufacturer still works “in the negative” and brings Tata Motors some expenses.

At the same time, Carlos Tavares is optimistic: he recalled the success of the transformation of Opel / Vauxhall: “With Opel, we demonstrated that we can develop a company that has been working for“ minus ”for 20 years, in just 12 months. So we know how to do it. ” Recall that in 2018, the French group PSA managed to return Opel to profit after almost 20 years of losses.

In Tata Motors itself, Autocar India reporters were told that the Jaguar Land Rover is not for sale.