Jaguar Land Rover’s Indian owners, Tata, have made a strong statement of intent despite the car manufacturer experiencing ‘challenging market conditions’.
The Coventry car maker has faced strong rumours that its owners may ditch the Jaguar brand due to problems brought on by Brexit uncertainty, plummeting sales in China and a decline in demand for diesel.
Tata’s chiefs have already written to the Prime Minister to confirm their commitment to the classic UK brand, but have now released a statement reaffirming the intention of the company.
In a statement Natarajan Chandrasekaran, chairman of Indian Tata Motors and Jaguar Land Rover, said: “I would like to clarify that we remain committed to the long-term growth and success of JLR.”
“JLR will continue to face global headwinds being experienced by the auto industry and, to address them, the management is taking the right steps to drive operational excellence, whilst continuing to invest in innovative products and technology to stay competitive globally.
“There is no truth to the rumours that Tata Motors is looking to divest our stake in JLR or discontinue the Jaguar brand.”
Jaguar’s overall sales were down eight per cent compared to the same period in 2017, whilst November’s sales figures in 2018 fell by 50 per cent in China.