There’s been a lot of talk in the press recently regarding Jaguar Land Rover being up for sale. Dr. Ralph Speth has reiterated that the British carmaker is not changing ownership any time soon.
“Today it’s very simple. Jaguar Land Rover is not for sale,” said Speth recently.
“We are owned by TATA of India. This is the way things will stay. TATA – with Jaguar and Land Rover – is a leader, producing leading products that have won a total of six World Car Awards in the last three years.”
Speth also spoke about the company’s financial difficulties, stating that the fall in diesel sales and the companies investments in more sustainable future products was largely to blame. JLR is expected to sign off on several new products in the coming months, including a smaller Land Rover model.
The speculation of JLR’s sale comes amid record losses. The Daily Mail recently reported the company had lost £3.6 billion (R65bn) in the year ending March 31. This was as a result of new investments as well as lower demand for certain products. This also coincided with the demand in China also plunging – a situation that was aggravated by the US-China trade war.
However, Speth has said that his company was one of the first to address the “multiple headwinds simultaneously sweeping the automotive industry” and that JLR’s turnaround plan had already saved £1.3 billion (R23.6bn).
These are uncertain times for Jaguar Land Rover but hopefully, things will pick up for the iconic Land Rover brand! Do you think Land Rover can survive these turbulent times?