Hyundai squashes Jaguar takeover rumors
Industry speculation about the future of Ford's Jaguar brand reached a crescendo this week, with insiders' favorite rumor tipping Hyundai as the lead candidate to buy Jaguar (supposedly destined for its Kia subsidiary), with Land Rover mentioned as a likely companion in a package deal. Well, its time to reset the rumor mill - Hyundai issued a statement Friday saying it is not interested in the luxury brand, either for itself or for Kia.Hyundai said its investments in the expansion of overseas production in North America, Europe, China and India, and in alternative powertrain technologies, rule out any acquisitions at this time. The Korean automaker confirmed that it previously studied acquiring a luxury brand to add to its portfolio, but said the option was dropped.
[Source: Bloomberg]
Reader Comments (Page 1 of 1)
electro^plankton 6:12PM (8/19/2006)
Damn, that is still one of the most beautiful logos EVER.
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upirons 7:08PM (8/19/2006)
Maybe Jaguar should stop selling some of its' best looking cars for over 80K and they might actually get a few more customers. I'm not saying they have to sell their cars at rock bottom prices but if they were to at least match up with some mid-level priced BMW and Mercedes I think they'd take some sales away there.
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anonymous coward 8:26PM (8/19/2006)
upirons: uhhh, x-type? ugh. case-closed.
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iQuack 10:26PM (8/19/2006)
Jaguar needed a savior in 1989 when Ford bought it, but not enough people want a good looking Ford derivative to pay Jaguar prices for Fords.
The Jaguar name is certainly worth something so long as it's stuck on cars that are worth luxury prices. Except for the S-Type Jag, the rest of them aren't so gorgeous at all.
The X-Type is a Mondeo in Jag drag, and the XJ is quite bland compared with corresponding BMW, Mercedes, Lexus, Infiniti, and Cadillac cars.
Jaguar has been a money-eater and Ford doesn't have the money to properly feed this cat. Hyundai could probably make a success of the brand if they wanted to.
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Elliott Marshall 8:53AM (8/20/2006)
What happened to shapes, power and individuality of the XKE? My dad owned one way back in the early 60's and I still pine for it. I'm even considering a BMW Z8 because it reminds me so much of its lines, aura and power. If Jaguar wants to compete in this market they better get on it and bring back shapely and powerful models.
When my S-Type goes in for service I get an X-Type for the day, and boy this car needs a total overhaul... strike that... I almost forgot... it's supposedly going out of production soon. Better off that way.
The 2.5 liter is so underpowered that I will only take out the 3.0, and even that is lacking.
Jaguar needs an infusion of some passion. The new XK is nice, but the front reminds me of a Ford Taurus, which has also been replaced and laid to rest. The pictures of the new S-Type show a bloated XK. I personally think Jaguar can do a lot better in the styling department. Are you guys listening?
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nb 2:39PM (8/20/2006)
hyundai's trying to improve the quality of its enignes, taking over Jaguar isn't going to help the cause now is it. Not to mention land rover......
sure, they're aesthetically pleasing, but mechanically, we all know they're not the most reliable.
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Brian Tiemann 4:26PM (8/20/2006)
Please, for the love of God: "Crescendo" does not mean "climax". It means a gradual increase in volume, or literally "growing".
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iQuack 6:22PM (8/20/2006)
7. Please, for the love of God: "Crescendo" does not mean "climax". It means a gradual increase in volume, or literally "growing".
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You mean like the Liebestod from "DRISTAN und Isolde?"
The intensity of that music gave me a headache;-).
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Robert 12:14PM (8/22/2006)
Apparently, Ford has informally shopped Jaguar (with and without Land Rover) to Hyundai and that's when Hyundai rejected the offer.
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Robert 12:16PM (8/22/2006)
Forgot the URL: http://www.autoinsidernews.com/2006/08/21/hyundai-confirms-ford%e2%80%99s-informal-offer-to-sell-jaguar/
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Alfred 6:36AM (10/16/2006)
Is there any truth to the rumour. That Toyota has shown some interest in Land Rover? Please tell me that one is true! That would be the best news I have heard in a long time.
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