With Ford Motor Company trying to free up liquidity, speculation has been flying around regarding the fate of their Jaguar and Land Rover brands. The two luxury nameplates were bundled together to be spun off by their American parent as an attempt to help refocus on struggles in the North American market.
The sale, which Ford hopes to complete "in early 2008", will likely see India's Tata motors as the winner of the auction. Sources say that Tata seemed the most likely candidate, though several rivals were still in the process of bidding. Bids reportedly ranged from 1.5 to 2.0 billion US dollars. A formal announcement regarding the winner of Jaguar and Land Rover brands can be expected in the coming weeks.
Tata Motors is India's largest auto manufacturer, turning in revenues of around 7.2 billion USD in 2006 - 2007. Their wide-reaching product portfolio includes machines ranging from small passenger cars to industrial / commercial trucks and buses.
The sale, which Ford hopes to complete "in early 2008", will likely see India's Tata motors as the winner of the auction. Sources say that Tata seemed the most likely candidate, though several rivals were still in the process of bidding. Bids reportedly ranged from 1.5 to 2.0 billion US dollars. A formal announcement regarding the winner of Jaguar and Land Rover brands can be expected in the coming weeks.
Tata Motors is India's largest auto manufacturer, turning in revenues of around 7.2 billion USD in 2006 - 2007. Their wide-reaching product portfolio includes machines ranging from small passenger cars to industrial / commercial trucks and buses.