Tata Motors not to buy Ford Credit

New Delhi, Apr 9: Ending speculation, Tata Motors today said it is not looking at buying Ford Credit. '''We have just bought Jaguar and Land Rover, and do not intend to buy Ford Credit, '' company Managing Director Ravi Kant told reporters here.

After the JLR deal, there were speculations that Tata Motors would have to buy Ford Credit to sell these cars. Ford Credit owns the finance company which feeds the dealerships for JLR and for buying this, the Tatas have only one year as per the original acquisition agreement. Ford Motor Credit company operates in 36 countries and has receivables of over 145 billion dollars.

UNI