Skip advert
Advertisement

JLR boss stops short of denying PSA takeover rumours

Leaked documents suggest PSA could buy JLR. Boss Dr Ralf Speth says he has not discussed a sale but doesn't deny moves are afoot

Land Rover Discovery - off-road

Jaguar Land Rover boss Dr Ralf Speth has insisted that he has not discussed any sale of his company to PSA with the French giant’s chief Carlos Tavares - but he has stopped short of quashing increasing speculation that the British brands could soon face a change of ownership.

Reports last week suggested that PSA is keen to acquire the Jaguar and Land Rover brands from existing owner Tata, in a bid to widen its portfolio to include more premium vehicles. Speaking at the Financial Times Future of the Car Summit, Jaguar Land Rover boss Dr Ralf Speth said that he “couldn’t confirm discussions” - but he declined to deny that any talks had taken place.

Advertisement - Article continues below

“I meet Carlos Tavares at an ACEA [European car manufacturer’s association] meeting,” Speth said, “but we didn’t have any discussion about ownership.”

When asked more directly if he knew of any talks between PSA and Tata, Speth replied, “There are rumours, but I cannot really confirm any of these discussions.”

The story first broke when a leaked “post-sale integration document”, seen by Press Association (PA), highlighted 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.

Skip advert
Advertisement
Skip advert
Advertisement - Article continues below

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...

Skip advert
Advertisement
Editor-at-large

John started journalism reporting on motorsport – specifically rallying, which he had followed avidly since he was a boy. After a stint as editor of weekly motorsport bible Autosport, he moved across to testing road cars. He’s now been reviewing cars and writing news stories about them for almost 20 years.

Find a car with the experts

Skip advert
Advertisement

Recommended

New Citroen 2CV: plans for the icon's return, risks and rewards
Citroen 2CV Modern render

New Citroen 2CV: plans for the icon's return, risks and rewards

We've spoken to Citroen bosses on their plans to reboot the 2CV and whether they should go retro or futuristic
News
9 Jul 2025
Land Rover Freelander to return in 2026, but not to the UK
New Land Rover Freelander name logo

Land Rover Freelander to return in 2026, but not to the UK

The Freelander name will be used for new range of electric cars, initially just sold in China but possibly coming here as well down the road
News
9 Jul 2025
Citroen recall: dealer network overwhelmed as thousands told to stop driving “immediately”
Citroen C3 Mk2 - front tracking

Citroen recall: dealer network overwhelmed as thousands told to stop driving “immediately”

‘Stop-drive’ order comes following the death of a woman in France suspected to have been caused by a faulty Takata airbag
News
3 Jul 2025
New Jaguar GT spotted testing again looking long, low and suitably mean
Jaguar Type 00 - front 3/4

New Jaguar GT spotted testing again looking long, low and suitably mean

A close-to-production concept of the eagerly awaited EV is set be revealed later this year, before the road-going model lands in 2026
News
27 Jun 2025

Most Popular

Ford Escort Mexico gets new lease of life with MST Sports
MST Ford Escort - front 3/4

Ford Escort Mexico gets new lease of life with MST Sports

While not officially Fords, the MST Mk1 and Mk2 Sports should drive as sharply as they look
News
7 Jul 2025
New MG IM5 has the Tesla Model 3 beaten on price and range
MG IM5 - Goodwood front

New MG IM5 has the Tesla Model 3 beaten on price and range

The all-electric IM5 brings new technology and design to the MG line-up
News
10 Jul 2025
Car Deal of the Day: Hot Volkswagen Golf GTI for a cool £287 a month
Volkswagen Golf GTI - front cornering left 1

Car Deal of the Day: Hot Volkswagen Golf GTI for a cool £287 a month

The Golf GTI has been a classic from day one – and it’s our Deal of the Day for 8 July.
News
8 Jul 2025