The latest whispers being passed around dinner tables in the automotive industry are that Jaguar and Land Rover are currently on the table, and potential buyers are Fiat. It seems that talks started in February this year but ended last month, with no resolution. Sources say the talks were dropped because Fiat was concerned on how the Jaguar would affect Fiat’s credit rating. Fiat would have benefited from Jaguar’s rear wheel drive platforms if the sale had gone through.
With rumours of BMW being interested in Volvo, and most of Aston Martin shares recently being sold, it seems Ford Motor Co is looking to offload all of it’s Premier Automotive Group (PAG) brands.
PAG lost US$327 million before taxes last year, it’s third loss in a row for three years. Jaguar has lost the most money apparently, a total of between US$500 million to US$1 billion since 2001. Land Rover has gained traction recently though, pardon the pun :)