US Jaguar dealers oppose Indian bidders

Indian ownership of Jaguar, one of the two luxury cars that the US car-maker Ford is selling off, is not acceptable to American dealers of the brand.

Tata group and Mahindra & Mahindra are two of the front-runners for acquisition of Jaguar and Land Rover along with private equity bidder One Equity that is led by a former Ford CEO.

While the Tatas and M&M are believed to have an upper hand in the race, according to a media report here, the Jaguar dealers of the US are in favour of the One Equity bid.

The Wall Street Journal quoted Ken Gorin, Chairman of the Jaguar Business Operations Council, as saying that the two brands should not be sold to the Indian bidders.

"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 told the business daily.

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