India's M&M Withdraw Bid for Land Rover, Jaguar
India's Economic Times is reporting that automaker Mahindra & Mahindra (M&M) has decided not to buy the British bits of Ford's floundering folly, the Premium Automotive Group. According to The Times, unnamed "investment banking executives" say concerns about Ford's ability to supply competitive powertrains for future Landies and Jags gave the Indian suitor cold feet. In other words, new EU CO2 regulations will force the companies to ditch their current engine lineup for more efficient powerplants. This increasingly central concern suggests that Land Rover and Jaguar would be safer in the hands of an automaker ready to make the switch than the former FoMoCo-led private equity groups looking to buy the Brits. That could only be India's Tata Motors, whose partner FIAT says it's ready to provide "technical support" for Tata's overseas adventure. Still, at the end of the proverbial English day, Ford will most probably sell its damaged brands to… the highest bidder.
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Muther-f-er. I was absolutely craving the notion of a diesel X-Type saloon with four wheel drive AND corn-husking combine.
I fancy Renault and Nissan as a buyer for these two. They could each take 40%, leave Ford with 20%. Ghosn would be a step closer to world domination and LR and Jag would go nicely with his KBE.