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In the past two months, there have been rumors that the owner of Jaguar Land Rover was interested in selling all or part of the company, and there were separate rumors that Peugeot was looking for a good buy. These rumors are now the subject of a new chimera rumor that Peugeot would like to merge with Jaguar Land Rover.
The problem is that Tata, the owner of Jaguar Land Rover, and Peugeot deny that it is sold to the latter, reports the magazine Automotive News:
PSA is not in a hurry for "any acquisition and can be self-sustaining," said the French automaker in a statement released Thursday. "We generate the cash needed to pay for our future. If an opportunity arises, like Opel-Vauxhall, we will examine it. "
Tata Motors said: "In general, we do not comment on media speculation. But we can confirm that there is no truth to these rumors. "
The rumor apparently comes from an unidentified leak to JLR, according to a UK-based press association, aptly named the Press Association. According to the so-called leaks, there is an "after sales" integration document on the possibility of cost savings through an agreement.
The rumor is mostly suspect because of its source – the Press Association – looks something like the Associated Press and its reports are generally accurate. But for the moment, there are only rumors about an alleged leak and the two statements that depreciate it.
Peugeot has already expressed interest in expanding its presence in markets outside Europe, including its return to the United States, where a brand such as Jaguar Land Rover already has a dealer network that could allow a reintroduction easier of the Peugeot brand.
Meanwhile, Tata recorded a loss of $ 4 billion in the last quarter of 2018, and JLR is facing an uncertain outcome on the Brexit, lower sales in China, and the worldwide abandonment of diesel and huge investments in electric powertrains, all of which could have a disastrous impact on the company that had already laid off 4,500 employees in December.
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