Home / Cars / PSA looking to buy Jaguar Land Rover, say reports

PSA looking to buy Jaguar Land Rover, say reports

Hugo Griffiths 2019-05-09 20:30

Leaked documents suggest PSA could buy JLR; PSA spokesman says company will consider acquisition “if an opportunity comes”

Jaguar Land Rover could be bought by French carmaker Groupe PSA, the parent company of Peugeot, Citroen and Vauxhall/Opel, according to reports.

A leaked “post-sale integration document” seen by Press Association (PA) highlights the benefits of a union between the two companies, with insiders at JLR telling PA that “things are moving quickly behind closed doors". The source added: "Just look at how close the two firms are in the UK – the two head offices in Coventry and Gaydon are just 25 miles apart and both firms make cars in the UK.

A statement from PSA said the company was in “no hurry” to buy JLR, but that "If an opportunity comes, like Opel (Vauxhall), we will consider it." PSA, which is 13.68 per cent owned by the French Government, has had significant success since buying Opel/Vauxhall from General Motors, with Opel/Vauxhall bringing in an €859 million profit in 2018, compared with the €257 million loss it made in 2016 when it was owned by General Motors.

JLR’s parent company, Tata Motors, however, told PA that: "there was no truth to rumours that Tata Motors is looking to divest its stake in JLR".

Suggestions that Jaguar Land Rover could be sold follow the firm posting a £273-million loss in the final quarter of 2018, and downgrading the value of assets by £3.1 billion. The recent success of the electric Jaguar I-Pace and all-new Range Rover Evoque have done much to lift JLR’s profile, as has the introduction of more plug-in hybrid and mild hybrid models, but they come off the back of a downturn in the company’s key Chinese market, and slow-selling models like the Jaguar XE and Land Rover Discovery.

Would a takeover by PSA be good for JLR? Have your say in the comments…

About Alex Ward

Check Also

New Mercedes A 250 e and B 250 e plug-in hybrids revealed

Luke Wilkinson 2019-08-19 11:20 Mercedes has unveiled a pair of new plug-in hybrid vehicles, with a claimed all-electric range of around 40 miles Mercedes has launched plug-in hybrid variants of the A-Class and B-Class, called the A 250 e and B 250 e respectively. The A 250 e will be priced from £32,500 for the hatchback and £33,100 for the saloon, while the B 250 e MPV will start from £33,700. All three models will be available to order in October, with first deliveries expected in early 2020. Merc’s PHEV powertrain comprises a turbocharged 1.3-litre four-cylinder petrol engine (lifted from the mid-range A 200), a 15.6kWh lithium-ion battery pack, and a 75kW electric motor. The powertrain is mated to an eight-speed dual-clutch automatic transmission, with total system output standing at 215bhp and 450Nm of torque. • Best plug-in hybrids on sale now As a result, the A 250 e hatch has a 0–62mph time of 6.6 seconds, a top speed of 146mph, and a claimed (WLTP-rated) all-electric range..

Leave a Reply

Your email address will not be published. Required fields are marked *