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Sale of JLR announced by Ford
Ford announces it plans to sell both Jaguar Cars and Land Rover and took on Goldman Sachs, Morgan Stanley and HSBC to advise it on the deal. The sale was initially expected to be announced by September 2007, but was delayed until March 2008. Ford had sold Aston Martin for 450 million in March that year and there had been increasing speculation over a possible sale of Jaguar after the group lost 6.5 billion the year before - the largest in its history. -
Ford ready to sell off its Midland jewels
Workers' leaders last night called on Ford to state its intent after it hired investment bankers to oversee a potential sale of Jaguar and Land Rover.
The American carmaker is said to have handed Goldman Sachs, Morgan Stanley and HSBC a mandate to sell the two luxury car businesses which could fetch up to 5 billion.
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Statement emailed to JLR workers
This was Ford's emailed statement to workers at Jaguar and Land Rover yesterday. "As we have consistently been saying since last year, Ford Motor Company has been assessing a number of strategic options for all our operations - as any responsible business should do. "A number of actions already have taken place as part of this review for example the sale of Aston Martin. More... -
Darling in talks over future of JLR
Trade and Industry Secretary Alastair Darling has held talks with Ford about its plans for Jaguar and Land Rover. He discussed the future of the businesses with Lewis Booth, the executive vice president of Ford Motor Company who oversees Ford of Europe. More... -
Midland Ford factories 'vulnerable to closure'
The two Midland factories used by Jaguar and Land Rover could be vulnerable to closure - no matter who buys the two car makers from Ford, it has been claimed. Either Lode Lane, which makes Land Rovers, and Castle Bromwich, which builds Jaguars, could close if a private equity company or another carmaker decides to buy the businesses. More... -
JLR: No decision to sell, says Sir Digby
Ford has taken "categorically no decision" to sell Jaguar and Land Rover, Sir Digby Jones said. Sir Digby, who is special advisor to Ford which owns both Midland firms said the American carmaker was still weighing up its options. He was speaking after holding high level talks with Ford's senior management in Detroit. More... -
Ford rumoured to be in of talks with SAIC
29/06/2007 - Shanghai Automotive Industry Corporation (SAIC) was rumoured to be talking to Ford about the possibility of buying Jaguar and Land Rover. -
Land Rover announces record sales
29/06/07 %u2013 07/07/2007 %u2013 Land Rover announced record sales figures, as Ford continued to look for a buyer for the firm. -
Arab investment funds deny interest in JLR
02/07/2007 - Spokesmen for two Arab investment funds denied that they were considering bids. It had been claimed that the Mubadala Development Co, owned by the government of Abu Dhabi, and Dubai International Capital had briefed advisers to prepare bids. -
Land Rover succeeds in US market
Land Rover was one of only two Ford brands to increase sales in the Detroit group's home market last month, figures showed last night. June's results showed that the Solihull 4x4 manufacturer put on 8.1 per cent in the US thanks to the arrival of the new generation Freelander, badged LR2.
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Unite union demands input into sales talks
14/07/2007 %u2013 Tony Woodley, joint general secretary of the Unite union, wrote to Ford Europe to demand a say in who buys Jaguar and Land Rover for workers. -
Deadline for offers for JLR
20/07/2007 %u2013 The deadline for offers passed at midnight, with five main players still in the running. Three American funds %u2013 One Equity Partners, Cerberus and Ripplewood Holdings %u2013 were the leading private equity bidders. At the time, One Equity were thought to be the frontrunners. Many of the private funds were led by former Ford executives. Bob Dover, the former Land Rover, Jaguar and Aston Martin chief operating officer was up against former Ford chief executive Jac Nasser at OEP, and former -
Deadline passes for Jaguar and Land Rover
The deadline for offers for Jaguar and Land Rover passed at midnight last night with five main players thought still to be in the running in the $1.5 billion sale. Three American funds - One Equity Partners, Cerberus and Ripplewood Holdings are among the private equity groups thoughto be planning bids. More... -
Indian giants make Ford shortlist
Indian automotive giants Tata Motors and Mahindra & Mahindra have made it to the shortlist of bidders for Jaguar and Land Rover. Reports on the sub continent had John Gardiner, official spokesman for Ford's Premier Automotive Group, which includes the Jaguar and Land Rover brands, as saying: "We have established contact with interested parties and are evaluating the expression of interest. More... -
Ford plays down Tata rumours
Rumours that Indian manufacturer Tata was poised to buy Jaguar and Land Rover were played down by Ford chief executive Alan Mulally yesterday. The car maker is moving to the next stage of discussions with potential buyers after receiving encouraging interest in the two marques, which together employ 15,000 people in the Midlands. More... -
JLR talks with Tata and Mahindra & Mahindra revealed
15/08/07 %u2013 Tata Motors and Mahindra & Mahindra opened talks with the board of Land Rover and Jaguar, coming as a surprise to experts who had predicted the firms would fall into the hands of a private equity firm. -
Jaguar unveils new XF
28/08/07 %u2013 Jaguar unveiled the new high tech Jaguar XF, set to replace the S-Type on its release early in 2008. -
Mahindra & Mahindra pull out
18/09/07 %u2013 Mahindra & Mahindra pulled out of the race to buy Jaguar and Land Rover, citing concerns over the supply of engines from Ford. -
Land Rover sees best ever sales
09/10/07 %u2013 Land Rover saw its best ever sales as wealthy Russian and Chinese customers queued up to buy the luxury cars. -
US sales spur Land Rover to record year
Land Rover looks set for another record year after sales in the US gained 21 per cent in September. UK monthly figures due out today are expected to be equally impressive, thanks to the impact of the new, second generation Freelander which was not on sale this time last year. More... -
Mahindra & Mahindra joins Apollo for last-minute bid
21/11/07 %u2013 American private equity house Apollo joined Mahindra & Mahindra to launch a last-minute new bid for Jaguar and Land Rover, as Ford announced it expected to find a buyer by the end of the year. The next day, Union leaders said they backed the Tata bid. -
Tata has edge in bid for JLR
Tata's experience of dealmaking and knowledge of the UK has given it the edge in the race to buy Jaguar and Land Rover, it has been claimed. The Indian industrial group is competing with JP Morgan-backed One Equity Partners and rival Indian firm Mahindra & Mahindra for the two luxury car brands which have been put up for sale by Ford. More... -
Tata confirmed as preferred bidder
21/12/07 %u2013Tata was confirmed as the preferred bidder for Jaguar and Land Rover, with official confirmation coming at the start of 2008. -
Land Rover staff still in dark over Tata buyout
Confusion continued to reign among Land Rover workers as their shift at the Solihull plant ended last night. News that Tata Motors were Ford's preferred bidders was included in a note from Geoff Polites, chief executive of Jaguar Land Rover, apparently circulated to staff yesterday morning. More... -
Land Rover makes over 200,000 vehicles a year
09/01/08 %u2013 Land Rover announced it had achieved annual sales of more than 200,000 vehicles a year for the first time in its 60-year history. But later in the month Jaguar announced its sales had plummeted 17 per cent in the same time. -
Jaguar & Land Rover sale by March 31
Ford confirmed yesterday that it hopes to complete the sale of Jaguar and Land Rover by the end of the first quarter of the year. Last week it named Indian corporation Tata Motors as preferred bidder for the two West Midland luxury brands, the sale of which is set to yield about 1 billion. -
US financial crisis hits JLR sales
04/02/2008 %u2013 The growing financial crisis in the US starting to hit Jaguar and Land Rover sales, with both suffering major setbacks in sales in America. A few days later Jaguar said its European sales had plummeted 40 per cent in the last year. -
US sales plummet for JLR
The American downturn amidst the ongoing global credit crunch is beginning to take its toll of Jaguar and Land Rover. Both have suffered major setbacks in January's US car sales figures. Sales of Jaguar models tumbled 52.2 per cent to 664 vehicles, from 1,390 a year ago. More... -
Tata confirms JLR will stay in the UK
27/02/2008 %u2013 Tata confirmed it would be keeping Jaguar and Land Rover production in the UK. -
Fears grow that Tata deal could be delayed
07/03/2008 %u2013 It emerged the Tata deal could be delayed as sources said the firm would need about 1.5 billion pounds to fund the initial transaction. -
Has Ford sold the family jewels?
As Ford prepares to announce the sale of Land Rover and Jaguar, automotive correspondent John Cranage takes a look under the bonnet of both businesses. One of the ironies of the arguments that have raged since Ford announced it was selling Jaguar and Land Rover is that they are both %u2013 along with Mini %u2013 survivors of that dreadful car crash called British Leyland. More... -
Tata offcially confirms it owns JLR
26/03/2008 %u2013 Tata officially confirmed it was the owner of Jaguar Land Rover, the new name for the company taking in the two marques. Between them, Ford and Tata had to inject about half a billion pounds into the pension fund for JLR workers before the deal could be concluded. Industry analysts said Jaguar could be about to start %u201Ca new golden era%u201D. -
Tata takes Land Rover and Jaguar for 1.15bn
Indian company Tata Motors is to take over the running of motoring marques Land Rover and Jaguar in a deal worth around $2.3 billion (about 1.15 billion pounds). Tata will replace US car giant Ford as the new owner of the companies in a move which will safeguard thousands of UK jobs. More... -
Jaguar sees a rise in US monthly sales
02/04/2008 %u2013 Jubilant Jaguar bosses saw a rare rise in monthly sales in the United States after a prolonged slump in its fortunes. Other markets also reported slightly improved figures. -
Land Rover US sales slump 40%
03/05/2008 %u2013 As Jaguar saw improved sales around the world, Land Rover was preparing for the worst as US sales slumped 40 per cent. -
Tata signs 'momentous' JLR deal
The 1.15 billion pound takeover of Jaguar Land Rover by India%u2019s Tata Motors has been officially confirmed. The deal marking the handover from Ford was signed by senior executives today (Monday) at a low key ceremony. More... -
Land Rover celebrates its 60th anniversary
10/07/2008 %u2013 Land Rover celebrated its 60th anniversary. -
JLR announces plans to open up Indian market
24/07/2008 %u2013 JLR said it would be setting its sights on India in an attempt to open up new markets as a response to the downturn in global demand. -
New car sales slumped to their lowest level since 1966
05/09/2008 %u2013 UK new car sales slumped to their lowest level since 1966 as the economic downturn kept customers out of the showrooms. -
Tata admits Jaguar has cut production
20/09/2008 %u2013 Tata admitted it has started to cut back production at Jaguar sites as the credit squeeze and economic downturn hit sales. -
JLR to shed 200 UK jobs
Jaguar Land Rover is to shed 200 jobs across its UK operations. The announcement came on Wednesday although the company stressed the redundancies were nothing to do with the current economic downturn or the slump in new car sales. More... -
JLR cuts 200 jobs in the UK
16/10/2008 %u2013 Jaguar Land Rover cut 200 jobs across its UK operations, although the company insisted the redundancies were nothing to do with the economic downturn or slump in new car sales. -
JLR chief executive says firm still has a future
10/11/2008 %u2013 Despite the horrendous economic conditions, Jaguar Land Rover chief executive David Smith said he had %u201Cnot lost one iota of belief in the brilliant future%u201D of the company or the region. -
Lord Bhattacharyya calls for Government rescue package
11/11/2008 %u2013 Lord Kumar Bhattacharyya, head of Warwick Manufacturing Group, urged the Government to mount a 1 billion pound-plus rescue package the credit crunch-hit car industry. -
850 agency staff cut at JLR sites in the West Midlands
27/11/2008 %u2013 JLR announced the loss of 850 agency staff at its sites across the region. -
Tata seeks help from Indian public
Tata Motors is appealing for investment from the Indian public to help meet the costs of its purchase of Jaguar and Land Rover. The scale of the financial problems facing the Asian group was highlighted as it emerged it had resorted to taking out an advertisement in an Indian newspaper seeking cash help from the public. More... -
Tata appeals to Indian public for help
03/12/2008 %u2013 Tata appealed for investment from the Indian public - to help meet the costs of buying Jaguar and Land Rover. -
Alistair Darling considers a rescue package
10/12/2008 %u2013 Chancellor Alistair Darling said he was considering the rescue package, a plan believed to be favoured by the Prime Minister, as well as Business Secretary Lord Mandelson. A group of West Midlands MPs backed the plans days alter. -
Production at Jaguar West Bromwich stops for 3 weeks
16/12/2008 %u2013 Production at Jaguar%u2019s Castle Bromwich site would stop for three weeks over Christmas and new year, the firm%u2019s owners said. -
Mandelson puts onus on Tata to save JLR
Ministers have held discussions with Jaguar Land Rover over the possibility of state assistance for the car maker, Business Secretary Lord Mandelson has said. But he stressed that the firm's Indian owners Tata had "the first responsibility" to ensure its survival and warned that the Government did not have "an open cheque-book" to bail out ailing private companies.
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Ministers say Tata should contribute to saving JLR
19/12/2008 %u2013 Ministers demanded Tata should put some of its own money towards saving JLR rather than rely solely on Government funds. -
Workers face anxious Christmas
About 13,000 workers at Jaguar Land Rover in the West Midlands are facing an anxious Christmas and New Year waiting to see if the Government comes up with a 1 billion cash lifeline to prop up the luxury brands.
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R&D could be the key to saving Jaguar Land Rover
Jaguar Land Rover%u2019s multi-billion pound investment in green automotive technology could be the trump card that secures Treasury backing for a government support package, insiders have told the Birmingham Post. More...
