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Leaked documents suggest PSA could buy JLR; PSA spokesman says company will consider acquisition “if an opportunity comes”
Jaguar Land Rover could be bought by French carmaker Groupe PSA, the parent company of Peugeot, Citroen and Vauxhall/Opel, according to reports.A leaked “post-sale integration document” seen by Press Association (PA) highlights the benefits of a union between the two companies, with insiders at JLR telling PA that “things are moving quickly behind closed doors”. The source added: “Just look at how close the two firms are in the UK – the two head offices in Coventry and Gaydon are just 25 miles apart and both firms make cars in the UK.
A statement from PSA said the company was in “no hurry” to buy JLR, but that “If an opportunity comes, like Opel (Vauxhall), we will consider it.” PSA, which is 13.68 per cent owned by the French Government, has had significant success since buying Opel/Vauxhall from General Motors, with Opel/Vauxhall bringing in an €859 million profit in 2018, compared with the €257 million loss it made in 2016 when it was owned by General Motors.
https://www.autoexpress.co.uk/jaguar/106786/psa-looking-to-buy-jaguar-land-rover-say-reports
The only person who got all his work done by Friday was Robinson Crusoe.
Anything i post over three lines long please assume it is an article lol.
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Hi Brydo,
Most interesting ‘leak’, I hope if it comes to fruition that PSA improve their build schedules on these newly acquired lines, for currently the Peugeot 5008 range and similar are taking up to 9 months for build dates. The latter Peugeot scenario is hardly conducive to them capturing new customers when some far eastern manufacturers are easily beating these margins from order to delivery.
Like you and others, I’ll keep an eye on the press and magazines for ‘updates’ and feed back such.
Thomas
Iv’e been looking at buying and older Jag and the diesel V6 engines in the early XF’s are Peugeot engines. I dare say if I checked the newer ones out they would be too.
I was interested in this as the number of independent car companies directly effect prices and competition. We have a limited number of cars on the scheme and APs appear to be heading in the wrong direction I wonder if mergers like this would adversely effect us?
The only person who got all his work done by Friday was Robinson Crusoe.
Anything i post over three lines long please assume it is an article lol.
LONDON — Jaguar Land Rover is not about to be sold to PSA Group, JLR owner Tata Motors and PSA said, denying a UK press agency report.
PSA is not in any hurry for “any acquisition and can stand alone,” the French automaker said in a statement Thursday. “We are generating the cashflow necessary to pay for our future. If an opportunity comes, like Opel-Vauxhall, we will consider it.”
Tata Motors said: “As a matter of policy, we do not comment on media speculation. But we can confirm there is no truth to these rumors.”
The UK-based Press Association said PSA and Tata Motors are exploring details of cost savings after a tie-up nd a “post-sale integration” document outlines specific areas. Negotiations are moving quickly, according to an unidentified person at JLR, PA said.
PA said leaked information suggested a sale could be imminent, citing the integration document, which outlines the benefits of the two companies joining forces.
PSA CEO Carlos Tavares is seeking a deal that will expand the automaker’s footprint outside of Europe, Bloomberg reported in March, citing people familiar with the matter. Fiat Chrysler Automobiles is attractive to PSA for its exposure to the U.S. and its premium Jeep brand, but Tavares also sees General Motors as a good fit and Jaguar Land Rover as a possibility, the people said.
PSA bought Opel/Vauxhall from General Motors in 2017 and has since restored the unit to profit after years of losses under GM.
Speculation has been mounting over JLR’s future under Tata Motors, which bought the automaker from Ford Motor in 2008.
Jaguar Land Rover has been hit hard by slumping sales in China, the shift away from combustion and diesel engines, and strong historic links to the UK, where concern over a disruptive Brexit has weighed on demand and prompted some brands to move production.
Jaguar Land Rover needs to raise $1 billion within 14 months to replace maturing bonds, while feeding an investment program for electric vehicles that is burning through cash.
Tata posted a record $4 billion loss for its fiscal third quarter ended Dec. 31, and warned that JLR would swing to an operating loss in the full year to March.
For a company that are struggling with ££ there still splashing the cash, there in the middle of building a masive showroom from the ground up in Brighton currently.
JLR boss stops short of denying PSA takeover rumours
Leaked documents suggest PSA could buy JLR. Boss Dr Ralf Speth says he has not discussed a sale but doesn’t deny moves are afoot
Jaguar Land Rover boss Dr Ralf Speth has insisted that he has not discussed any sale of his company to PSA with the French giant’s chief Carlos Tavares – but he has stopped short of quashing increasing speculation that the British brands could soon face a change of ownership.Reports last week suggested that PSA is keen to acquire the Jaguar and Land Rover brands from existing owner Tata, in a bid to widen its portfolio to include more premium vehicles. Speaking at the Financial Times Future of the Car Summit, Jaguar Land Rover boss Dr Ralf Speth said that he “couldn’t confirm discussions” – but he declined to deny that any talks had taken place.
“I meet Carlos Tavares at an ACEA [European car manufacturer’s association] meeting,” Speth said, “but we didn’t have any discussion about ownership.”
When asked more directly if he knew of any talks between PSA and Tata, Speth replied, “There are rumours, but I cannot really confirm any of these discussions.”
https://www.autoexpress.co.uk/jaguar/106786/jlr-boss-stops-short-of-denying-psa-takeover-rumours
The only person who got all his work done by Friday was Robinson Crusoe.
Anything i post over three lines long please assume it is an article lol.
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