No surprise: GAZ has no interest in buying Jaguar/Land Rover
Contrary to the reports that surfaced yesterday asserting that Russian automaker GAZ was interested in purchasing Land Rover and Jaguar, a spokesman for the company has officially denied the rumors. Reuters quoted Oleg Deripaska, the billionaire behind Russian Machines, the umbrella corporation that owns GAZ, as saying that, "There is no interest from my company or from our subsidiary Gaz in any of these brands." 'Nuff said? Good, we're moving on.
[Source: Reuters]
Reader Comments (Page 1 of 1)
stefan 7:45AM (7/31/2007)
Ford is smart they want to sell of all the crap that they have. The only brand witch they wont sell is mazda.
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AlexP 9:39AM (7/31/2007)
They NEED Volvo (platform sharing, safety enhancements and engineer, plus the trucking division), Mazda (platform sharing, compacts and subcompacts) and perhaps Lincoln (if they can turn it around). Mercury (unless they pull a Buick with it) Jag (you know the deal with them) and Land Rover can go.
Nellydesign 8:37AM (7/31/2007)
It sure would be nice if we could hear about interest in JAG/ROVER from companies that DON'T exclusively produce rolling piles of garbage and pass them off as cars. Gaz? Tata? What's next? Oscar Meyer?
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Mr. Oak 8:51AM (7/31/2007)
Hey, you might be on to something there. That XK would make one sexy wienermobile.
http://www.reedberry.com/wmob001.jpg
Barney 9:09AM (7/31/2007)
it's the same ol "who's buying" syndrome. Daimler wasn't selling Chrysler and then they were. For months we'll get the inside scoop, until out of the blue, a buyer appears. Even now, we don't know the fate of Chrysler.
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omar 10:26AM (7/31/2007)
Ford is not going to find a buyer for both Jaguar and Land Rover, what is going to have to happen is that they will end up stuck with Jaguar Cars and selling Volvo and Land Rover. Volvo will fetch up to 8 or 9 billion dollars and Land Rover will fetch up to 5 or 6 billion also. Ford will eventually have to give into the fact that Jaguar is not worth buying at this point in time because of its consistant anual million dollar loses. Volvo will nevertheless be sold to that Wallenberg Family of Sweden that owns Investors AB, because in doing this Ford will be able to maintain a nice stake of shares in the Volvo company so that they could continue to benefit from Swedish technology on safety. Volvo will benefit greatly because it will not have the burden of Ford holding them back on new products ( as seen with the delay of the new S60, the luxury XC100 to compete with the R Class, and delay of the new XC60.) Volvo will once agian be Swedish owned but with the experience of more reliability in production, and also they will be able to uses Ford for more platforms to grow product range.
Land Rover on the other hand is more than likely goin to be swept up by any company but most likely Cerebus or Magna. Ford will maintain a share in Rover but smaller than that of Volvo to obtain suv building technologies. Land Rover will be able to drop the ties with Jaguar slowly and become a once agian renowned brand of luxury SUV's.
Jaguar will have to trout forward with Ford but they too in time wil become a better brand but not with the catche of BMW or Mercedes. Jaguar needs better products than they have now and the upcoming XF sedan will outright determine the faith of Jaguar as being a register company.
Barney 4:48PM (7/31/2007)
I wonder what happens to the cars when they are no longer part of Ford. Both the Jag and Volvo have Ford influence and some of Fords own cars have influence from those two. Any new buyer would not what their cars to be part of Ford nor use Ford parts. The consumer will also hesitate because they won't know what they will be buying. Daimler still owns a part of Chrysler and it would be no surprise to see the influence in either car.