Coventry, England - Following persistent rumours that loss-making Jaguar Land Rover might be sold to Peugeot-Citroen or another carmaker, JLR CEO Dr Ralph Speth has reiterated that the British carmaker is not changing ownership any time soon.
“Today it’s very simple. Jaguar Land Rover is not for sale,” Speth told Auto Express recently.
“We are owned by TATA of India. This is the way things will stay. TATA - with Jaguar and Land Rover - is a leader, producing leading products that have won a total of six World Car Awards in the last three years.”
Furthermore, Speth did not shy away from discussing the company’s financial difficulties with the UK publication, stating that the fall in diesel sales in investments in more sustainable future products was largely to blame.
Auto Express also reported that JLR is expecting to sign off on several new products in the coming months, including a smaller Land Rover model.