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Stratstone happy with bids for Jaguar and Land Rover

James Brierley, managing director of Pendragon’s Stratstone dealers, has given his approval for all three bidders in the running for Jaguar and Land Rover.

In an interview with The Times, Brierley, who is also chairman of the British Jaguar dealers’ council, said "most" of the Jaguar dealer council members we happy with the bids that had come in.

He said: “We wanted assurances over the future and product plans and they all have given that.”

Brierley’s view contrasts with the US Jaguar dealer council which is openly backing the bid from American equity group, OneEquity.

Tata’s is understood to have given its assurance that Jaguar and Land Rover’s current management and UK manufacturing base will be kept largley in tact.

Industry analysts expect the bids to range betweem $1.8 billion to $2.2bn.

Ford is expected to decide who its preffered bidder is for its Jaguar and Land Rover brands before Christmas.

Unite, the UK’s biggest union, gave Indian-based Tata its approval last week, but there are still two other companies in the running.

Mahindra & Mahindra, the Indian rival to Tata is still interested, as is OneEquity.

The Wall Street Journal quoted Ken Gorin, chairman of the America's Jaguar Business Operations Council, as saying Jaguar and Land Rover should not be sold to Indian bidders.

He said: "I don't believe the US public is ready for ownership out of India for a luxury-car brand such as Jaguar... I believe it would severely throw a tremendous cast of doubt over the viability of the brand."

Gorin warned against selling the premium Jaguar brand to either Tata Group or Mahindra and Mahindra citing "unique image issues," the report said.



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