Jaguar Ok with Tata takeover: Report

Written by Agencies | London, January 28: | Updated: Jan 28 2008, 18:37pm hrs
The management of luxury carmaker Jaguar is 'entirely relaxed' about the prospects of Indian conglomerate Tata Group taking over the brand along with Land Rover.

Both luxury brands are owned by US carmaker Ford Motors.

Earlier, this month, Ford had named Tata Motors, which is part of the Tata Group, as the preferred bidder for its British marquees - Jaguar and Land Rover, but a final decision for the sale is yet to be taken.

"We have shown Tata our new model lines and the planned product cycle. The two national cultures appear to fit together very well and Tata is being very respectful about what we are doing," Ian Callum, Director of design who is responsible for the Jaguar's new XF and XK model ranges told Financial Times.

However, Callum stopped short of acknowledging Tata's purchase of Jaguar and Land Rover for an estimated two billion dollar was a done deal between Tata and Ford, the report said.

Jaguars management is entirely relaxed about the prospect of the carmakers takeover by Tata group and believes that it would allow Jaguar and Land Rover to develop unfettered, the financial daily added.

Many of the problems associated with Jaguar cars, which have persistently failed to attract enough buyers and its descent into losses that hit about 600 million dollars several years ago, lay within Jaguar itself, Callum was quoted as saying in the report.

It had failed to move on and keep pace with its major rivals, he added.