Jaguar on a major overhaul mode

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Jaguar is an iconic brand but its loss making business makes it less attractive than Land Rover . The top boss of Jaguar, though, is planning to revive Jaguar, reports CNBC-TV18.

 

Mike O' Driscoll , the Managing Director of Jaguar cars has a big challenge of rediscovering the glorious past of 72 year-old Jaguar cars, which experts say was during the late sixties, when it had successful cars like the XJ Series and E-Type. Its merger with British Leyland before being acquired by Ford in 1989 didn't help. Ford tried its hand but with little success. Currently Jaguar is carrying a loss of nearly a billion dollars. Said Mike O'Driscoll, MD, Jaguar Cars , " We have had a tough time over the last few years for sure. The company expanded, expanded too quickly. But we are past that now. We are moving forward."

 

Moving forward with a new face in the XF. Jaguar has learnt that modern technology with retro looks doesn't sell. This car will have the responsibility of pushing Jaguar's annual sales of around 75,000 units before another new car--the XJ is launched in a couple of years. The launch of this XF here at the Tokyo Motor show marks this car's debut in the Asian market. While Jaguar admits that it is facing a tough financial challenge, it's also bullish on the XF  to make a comeback.

 

"For sure, the financial health of Jaguar suffered as the company expanded 5-7 years ago but we've been rebuilding the company, we've been refocusing our energy on building beautiful fast cars. We believe that as we focus again on the luxury market, on the super affluent customers, we can be successful and rebuild this company," added O'Driscoll.

 

Tata Motors is interested in rebuilding this company, and some of the 100,000 HNIS in India may also help Jaguar, as it will come to India and sell its cars. Not only selling, Jaguar may also buy from India. It already is a customer for Tata Motors' subsidiary-- Tata Technologies. "India has such a highly qualified, highly talented workforce. It obviously gives us great opportunities going forward. We need to look at these opportunities one by one where it makes sense. We can then make appropriate decision," opined O'Driscoll .

 

It has to take another billon, rather 2 billion dollar decision! Among the two private equity players and Tata Motors, who are believed to be left in the race for Jaguar and Land Rover, who will Jaguar like to be with? "All we wish for the future is that if we have a different owner, it's an owner who shares our passion of building beautiful fast car," said O'Driscoll.

 

Will Ratan Tata's passion for cars help Tata Motors outbid the others? Seems likely...