Indian conglomerate will invest in Formula One team
18 December 2008

Tata, the Indian firm that owns Jaguar and Land Rover, has agreed to sponsor the Ferrari F1 team from next season.

"For the first time an Indian brand will appear on a Ferrari," said Ferrari chief Luca di Montezemolo.

There’s no official word on how much money the Indian conglomerate will invest in Ferrari.

Ratan Tata sits on the Fiat board, which is where the Ferrari deal has stemmed from. Tata and Fiat already have a joint venture to produce small, cheap cars in India.

The news comes as Tata-owned Jaguar and Land Rover continues to lobby the UK government for a £1bn tax-payer bailout.

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Comments
15

18 December 2008

If Jaguar Land Rover's owners, TATA, can afford to fritter away money on sponsoring the Ferrari F1 Team, why are Jaguar Land Rover asking for a bail-out from H.M.G. (all of us, in other words) ?


Enjoying a Fabia VRs - affordable performance

18 December 2008

so they can sponsor an F1 team, but not bail out a failing JLR ?? I hope the british government dont give JLR any money as it os obvious that Tata have more than enough money!!!

18 December 2008

I echo the other comments. If they have enough money at the parent company then they shouldb't be able to use tax payer's money to bail-out another part...

This also applies, in my opinion, to the Chrysler/Cerberus situation. Cerberus has plenty of money but the US government doesn't appear to be making them cough up any of it to support Chrysler....

18 December 2008

Tata is taking the piss- its not enough that they are asking for billions in aid, they are also going to sponsor a competitor in the car industry- unbelievable cheek

18 December 2008

Tata has made a fortune in business so he can't be thick. However, he is amazingly cheeky if this Ferrari story is true. Hopefully someone in a position of power is able to analyse these seemingly conflicting situations before a decision on a £10b bailout is offered.

PaulJ

18 December 2008

Sponsoring Ferrari would be seen as good marketing and would be expected to return more in revenue than the initial cost of sponsoring. Therefore shouldn't we be encouraging them to sponsor Ferrari so they can afford to keep JLR alive?

18 December 2008

[quote theonlydt]

Sponsoring Ferrari would be seen as good marketing and would be expected to return more in revenue than the initial cost of sponsoring. Therefore shouldn't we be encouraging them to sponsor Ferrari so they can afford to keep JLR alive?

[/quote]

Err..which Indian school of marketing did you go to???

How does JLR parent company Tata sponsoring a Italian F1 team allow them to keep JLR alive??

Tata have revenues of over 60billion, if they can't find cash there to save JLR I hardly doubt a deal with Ferrari F1 is going to do it!!

Tata are taking the p**s!, I see no reason why the UK taxpayer should hand over 1billion to an Indian congolomorate with over 50 subsideries in diverse markets that made a profit of over 5billion last year...

Long term, if Tata want to make JLR a success they are going to have to offshore the manufacturing of JLR, retaining engineering in the UK. JLR are niche product providers whose products are becoming less attractive in the current and future marketplace.

I question whether a 1 billion goverment bailout will save JLR in it's current format in the future...

18 December 2008

If I remember correctly, don't Tata own quite a sizeable % in Fiat and Pinninfarina? At least enough to justify their name going on the car? Also, has no one thought to point out that the Tata name has been carried on the Williams car for several years. If I was to put my money on it, I'd say not a single penny has changed hands for that sponsorship (the Ferrari one).

Gent's you are entitled to your opinion, but I think before you stand on your soap box, you should look a little deeper.

As for the £1billion loan, if you actually look into the details of that and what JLR have said, you might not shout so loudly. To break it down they are simply saying "every other car company has approached their national government for a loan, we would be idiots not to."

18 December 2008

My reply re.marketing etc was just to provide a slightly different opinion as everyone else seemed to be piling on to the outrage bus ready for a trip down "misplaced anger lane". Luckily madmax83 seems like an intelligent, decent chap capable of reading and digging deeper - so I suggest you listen to him :)

18 December 2008

[quote theonlydt]Luckily madmax83 seems like an intelligent, decent chap capable of reading and digging deeper - so I suggest you listen to him :)[/quote]

intelligent and decent..quite kind of you, but too much good sir!

I seem to have a knack for remembering unbelieveable amounts of detail when it comes to the auto industry and motorsport. As soon as I read this story I instantly thought of why their name hadn't appeared on their car sooner. I think a lot of people are just trying to reiterate the fact that we live in "broken britain" and give us all a lovely knee jerk reaction that the british people love so much! In a week, or a month, or a year, it will all be forgotten about! Where are all the good stories lately, it seems like the press want to do nothing but depress the nation!

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