Last Resort Posted March 26, 2008 Share Posted March 26, 2008 March 26 (Bloomberg) -- Ford Motor Co., the world's third- largest automaker, will sell Jaguar and Land Rover to Tata Motors Ltd. for at least $2 billion as demand for the luxury vehicles falls at the fastest pace in at least three years. Jaguar sales dropped 33 percent in the U.S. and Europe in the first two months of the year. Land Rover sales fell 13 percent in the U.S. and 7.7 percent in Europe during the period. The purchase by Tata Motors, India's largest truckmaker, will be announced today, a person familiar with the transaction said. Ford, based in Dearborn, Michigan, is ending its 21-year investment as the U.S. housing slump and job losses curb demand for the $80,000 Jaguar XK and the $93,000 Range Rover. ``These are vanity products and probably these brands will have a tough time in a weak economy,'' said Edwin Merner, who oversees $2 billion as president of Atlantis Investment Research Corp. in Tokyo. Mumbai-based Tata Motors ``will have trouble doing well in this sort of environment,'' he said. Wall Street banks have eliminated 34,000 jobs in the past nine months in the wake of the collapse of the subprime mortgage market. U.S. sales of luxury cars made by Jaguar, Bayerische Motoren Werke AG, Porsche SE and Audi AG have fallen this year. `Major Challenge' Ford, which lost $15.3 billion in the past two years, bought Jaguar in 1989 for $2.5 billion and Land Rover in 2000 for $2.73 billion. Ford doesn't disclose financial figures for Jaguar and Land Rover, whose biggest markets are the U.K. and the U.S. Jaguar is unprofitable, according to analysts. ``Turning around Jaguar will be a major challenge,'' said Ashvin Chotai, a London-based independent Asian automobile analyst. ``Tata will need to tread carefully and ensure there is no negative impact on these brands.'' Tata has obtained $3 billion of loans to use for the purchase, and Ford will contribute $600 million to pensions for Jaguar and Land Rover workers, people familiar with the transaction said yesterday. ``We've made significant progress,'' Ford spokesman Mark Truby said in an interview yesterday. ``There are no major roadblocks.'' He declined to give details. ``We're in discussions,'' Debasis Ray, a Mumbai-based spokesman for Tata Motors said yesterday. Ford rose 4 cents to $6 in New York Stock Exchange composite trading yesterday. Tata Motors fell as much as 4.2 percent today to 651.1 rupees in Mumbai trading today. It changed hands at 660.95 rupees at 12:55 p.m. local time. The stock has fallen 17 percent since Ford named Tata on Jan. 3 as the preferred bidder for Jaguar and Land Rover. Overseas Network The purchase would give Tata brands with histories dating back to Britain's colonial era. Tata would also gain an overseas sales network after only 10 years making cars. Parent company Tata Group, which also owns units making tea, software and salt, is steering acquisitions by Indian corporations abroad. The group, led by Ratan Tata, bought steelmaker Corus Group Plc for $12.9 billion last year in the biggest-ever purchase by an Indian company. The Tata Motors division signed agreements in 2003 to buy the Daewoo Commercial Vehicle Co. for $102 million, its first overseas acquisition. Quote Link to comment Share on other sites More sharing options...
spanky Posted March 26, 2008 Share Posted March 26, 2008 India was ounce under British rule, now it owns their car companys???? Quote Link to comment Share on other sites More sharing options...
MikeJ Posted March 26, 2008 Share Posted March 26, 2008 I'm not sure what this will mean for Jaguar.... Alot of people complain that Ford has killed Jaguar, but I am in the minority in believing that they really have helped the vehicle quality. I have owned pre-Ford Jaguars and Ford-era Jaguars included my currenty 2003 model. Before Ford purchased the cars the quality was terrible. I had a 1985 and was going to replace that with an 88. This was back in the early 90's. The '85 was truely built well. There was no plastic on the outside.. the grill the turn signal bases, the mirrors.... all chromed metal. The interior of the car was also second to none. It was contructed with real burled walnut.. no plastic fake wood accents. These are all the pro's... the con's.... Lucas has to be the worst for electrical problems. There isn't much good for me to say about the electrical components of these cars. The wireing was terrible and all the switches had to be replaced on a regular basis. The engine was very reliable and very stong. No issues in that department. So.. the '88 is next. It is a polar opposite to the '85 . The interior wood had been replaced with plastic wood accents, alot of the exterior chromed metal was replaced with chromed plastic. The suspension... which was great on the 85 had been replaced with a newer air ride that was being switched back to conventional as a fix at the dealership once the warranty ran out. The engines were a newer design.. going from the tried and true 4.2 to the 4.0 which was having major fuel injection issues. I don't really have much good to say. Ford purchased them in '89... the '90 model years had real wood again.. the suspension was changed back and the electrics were being changed from Lucas to FoMoCo components. My last two purchases have been awesome. The reliablity has skyrocketed, I have not had any electrical problems, engine problems or suspension problems. The interior still has real wood... the exterior..sadly still retains the chrome over plastic on alot of parts. The V8 that is being used is very strong and very reliable. The brand has been tainted by Ford in other ways. Ford has tried to market a Niche car to a Mass audience. This was one of their mistakes. They introduced a few low model cars to try to bring the sales to everyone. This was a mistake in my opinion. I watched a Ford rep. on TV once saying that they wanted the Jaguar cars to be as common as Lincolns. I thought that statement really sucked. The lower models they introduced are the X-type and the S-type...... yes they are still Jaguars but they did seem to tarnish the name. I also heard them saying how they wanted to change the flagship XJ to meet the new view of luxury instead of the old Jaguar that everyone knows.... what a load of crap. I purchase XJ's or Vanden Plas's because of what they are... if I wanted something new.. I would get a Lexus or an Acura. Anyway.. I have tons more to say.. but will leave it at this. I'm sure alot of you are able to disagree or pick apart my statements.. and am willing to add more if it is wanted. The Jag's must be the reason I love my Gilroy Indian so much.. beautiful...... yet... flawed..... It seems a common thread. MJ Quote Link to comment Share on other sites More sharing options...
Pop Posted March 26, 2008 Share Posted March 26, 2008 Ta Ta Nano 2500$. 300 pounds of plywood framing. Quote Link to comment Share on other sites More sharing options...
Maldev Posted March 26, 2008 Share Posted March 26, 2008 Then I guess this means they'll retain their hardwood dashboard. Quote Link to comment Share on other sites More sharing options...
MikeJ Posted March 26, 2008 Share Posted March 26, 2008 Then I guess this means they'll retain their hardwood dashboard. I believe it may be Plywood with a contact paper finish !! MJ Quote Link to comment Share on other sites More sharing options...
Moon Killer Posted March 26, 2008 Share Posted March 26, 2008 Ford upgraded the Jag from a total POS to just a POS. Looks like Jag's future will follow it's past. I still love the XKE though. Quote Link to comment Share on other sites More sharing options...
Last Resort Posted March 26, 2008 Author Share Posted March 26, 2008 Ta Ta Nano 2500$. 300 pounds of plywood framing. Nice tata's Quote Link to comment Share on other sites More sharing options...
XV62 Posted March 26, 2008 Share Posted March 26, 2008 Nice tata's Yeah, buddy. Them ain't nanos, though. Quote Link to comment Share on other sites More sharing options...
Gary2Wheels Posted March 27, 2008 Share Posted March 27, 2008 I've always thought Jaguar was an unusally attractive automobile...and if I could afford one,I probably would'nt have to worry about it's quirks,just tell the chaffeur to have it tended to....Fords suit me fine Quote Link to comment Share on other sites More sharing options...
Chief Waldo Posted March 27, 2008 Share Posted March 27, 2008 Nice tata's ................ Obviously photoshopped! Quote Link to comment Share on other sites More sharing options...
maninbox Posted March 27, 2008 Share Posted March 27, 2008 Owning a Jaguar says that not only do you have the money for a top-of-the-line luxury car but you don't care how much it costs to maintain. Thats saying a lot. Quote Link to comment Share on other sites More sharing options...
Last Resort Posted March 27, 2008 Author Share Posted March 27, 2008 Owning a Jaguar says that not only do you have the money for a top-of-the-line luxury car but you don't care how much it costs to maintain. Thats saying a lot. Or you could say ... Owning an Indian says that not only do you have the money for a top-of-the-line luxury motorcycle but you don't care how much it costs to maintain. Thats saying a lot. Quote Link to comment Share on other sites More sharing options...
maninbox Posted March 27, 2008 Share Posted March 27, 2008 Or you could say ... Owning an Indian says that not only do you have the money for a top-of-the-line luxury motorcycle but you don't care how much it costs to maintain. Thats saying a lot. Touche! Quote Link to comment Share on other sites More sharing options...
Dr. Mark Posted March 27, 2008 Share Posted March 27, 2008 LMAO! I thought MG was gonna vomit when I told her about this. She loves her little Jag, and really, I have to agree with MikeJ...it has been amazingly trouble free, and Ford did NOT ruin the marque...they improved QA by light years. Actually her's (and this is her second one in a row) has been COMPLETELY trouble free...which astounded me. I used to own a pre-Ford XJ, and it truly was a mechanical piece of total shit. EVERYTHING broke. It was gorgeous, though, stunning inside and out, and attracted women like bees to a flower. Mmmm, mmm, mmm. I traded it in on a 4X4 Suburban, LMMFAO! The Sub was more 'me', LOL! -Doc Quote Link to comment Share on other sites More sharing options...
Rosie Posted March 27, 2008 Share Posted March 27, 2008 ................ Obviously photoshopped! Who Cares? Quote Link to comment Share on other sites More sharing options...
Dr. Mark Posted March 27, 2008 Share Posted March 27, 2008 Or you could say ... Owning an Indian says that not only do you have the money for a top-of-the-line luxury motorcycle but you don't care how much it costs to maintain. Thats saying a lot. I will not, however, be trading the Chief in on a 'Wing. That'd be like trading MG in on Marge Simpson. (No offence Eric, LMAO!) -Doc Quote Link to comment Share on other sites More sharing options...
It is Baloon Posted March 27, 2008 Share Posted March 27, 2008 you say potatas----I say tomatatas. this is a test...think flood control is on. Quote Link to comment Share on other sites More sharing options...
MikeJ Posted March 27, 2008 Share Posted March 27, 2008 Owning a Jaguar says that not only do you have the money for a top-of-the-line luxury car but you don't care how much it costs to maintain. Thats saying a lot. Exactly why the Indian hasn't shocked me !! With the older Jags.. the initial purchase cost was going to be the least of the bills that you were gonna have. But that has not been the case with the two newer ones that I have had. No mechanical or electrical issues at all..... NONE. I used to own a pre-Ford XJ, and it truly was a mechanical piece of total shit. EVERYTHING broke. It was gorgeous, though, stunning inside and out, and attracted women like bees to a flower. That was my experience exactly. I learned alot about how the english built their cars.. and how I had to fix them. But that was part of the experience. Even if everyone doesn't agree.. it is nearly an identical experience to owning a Gilroy Indian. They look awesome.. you own them because you love the design and the uniqueness of the vehicle... but with all of that comes a price.. usually in the form of parts and labor. If you wanted to be one of the crowd you would have bought an H-D...Suzuki...Honda...Victory...Yamaha...Kawaski...etc or instead of a Jaguar.. you would purchase a Lincoln...Caddy...Lexus...Acura...etc. SO anyway... that is just a little rant.. and a little info. I also usually find that most people that say what a POS Jaguar is...either don't own them...have heard stories from "friends"...owned an older one and never forgot the bad experience.... or just don't like them period. Kinda like the "riders" that we all know that say what a POS Indians are. as a Disclaimer... this is just my opinion.. and everyone knows what they say about Opinions and everyone having one !! MJ Quote Link to comment Share on other sites More sharing options...
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