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By the time you read this, there’s little doubt that Tata will have been announced as the new owner of two legendary, and quintessentially British, marques – Jaguar and Land Rover. At the moment, an official announcement is still awaited, but it appears to be a foregone conclusion. Nevertheless, as they say, ‘it’s not over until the fat lady sings’ – in this case the fat lady is the ailing Ford Motor Company, which is expected to announce the buyout in early 2008.
It’s a matter of great pride for our country that two Indian companies made it to the final round of bidding – Tata Motors and Mahindra & Mahindra. M&M recently pulled out of the race citing some last minute complications.
Tata’s buyout of Jaguar and Land Rover, at an expected US $2 billion, may pale in comparison to its recent acquisition of the steel giant Corus at US $ 12 billion, but in some ways it announces to the world even more firmly that India’s time has well and truly arrived. Reason being, Jaguar and Land Rover are much more in the public eye – in fact, in the hearts and minds of people across the globe – as opposed to a faceless organization, albeit a massive one.
Both these marques have a very rich heritage and tradition. Tata will be well aware that leveraging this heritage, and maintaining the inherent characteristics of both marques, will be critical to their success moving forward.
Tata will be well aware that leveraging this beritage, and maintaining the inherent characteristics of Jaguar and Land Rover, will be critical to their success moving forward
Tata’s also fortunate to have stepped in at a very opportune time indeed, especially in the case of Jaguar. While Land Rover, as an individual entity, makes a healthy profit and is a brand held in high regard the world over, Jaguar hasn’t been so fortunate in the recent past. The company has been fighting a losing battle to wipe out its red ink, and Ford has pumped in an enormous amount of time and money to ensure its existence and revival.
It appears that Jaguar could well be on the cusp of that revival as we speak. The money that Ford has pumped into product development means that Jaguar has an exciting new model line up in the pipeline – its new XF sedan, which hints at a completely fresh approach, is evidence of this. Even before its launch, the company’s received over 3,000 bookings in the UK itself. This model has the potential to single handedly turn the marque around and lead its revival.
Needless to say, there will be huge challenges as well. In many cases, Tata Motors will have to depend on Ford’s help and active involvement in areas such as drivetrain technology, R&D for better fuel efficiency, lower emissions, etc. At the same time, for Tata Motors this means immediate access to new and cutting edge technology and international markets. They can use both these factors to further leverage their relationship with Fiat – who could benefit from the existing dealer network for the re-entry of Alfa Romeo in the US, or even some of Land Rover’s expertise to assist in developing an SUV of its own. Moreover, ownership of these marques will give the Tata brand itself greater appeal. Even if it takes them many years to incorporate new technologies into their own cars, the halo effect will begin almost instantaneously.
At the complete other end of the spectrum, Tata Motors will preview the highly anticipated One-Lakh car at the Auto Expo in New Delhi for the first time. The Expo, which has doubled in size since the last edition in 2006, is indicative of how rapidly the Indian market is evolving. Be certain to attend the show, and don’t forget to pay us a visit outside Hall 7 in Pragati Maidan.
The car in this image is a Ferrari FXX – at the time referred to as the Super Enzo – caught testing at Fiorano during a very memorable trip to Maranello, the home of Ferrari, in 2005. See our feature story for more, as well several other exciting destinations.