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Tata Group, the parent company of Jaguar Land Rover, said it was "willing to find a partner for Jaguar Land Rover to solve its current operating difficulties, but has no plans to sell the troubled subsidiary," Bloomberg reported. "

Chandra Sekaran, chairman of Tata Group, said: "We will not sell Jaguar Land Rover because the automotive business is our core business and accounts for the vast majority of the group's total revenue in terms of negative revenue."

It is understood that Tata Group acquired the Jaguar Land Rover brand from Ford in 2008 and sold it mainly in Russia and China after the acquisition.

In the Chinese market, for example, Jaguar brand sales totaled 37300 vehicles in the third quarter of this year, down 11 per cent from a year earlier, while Land Rover brand sales rose 4.2 per cent to 91600 vehicles. In September, Jaguar Land Rover sold 56800 vehicles, up 0.5% from a year earlier, of which Jaguar brand sales were 16200, down 15.2% from a year earlier, and Land Rover brand sales were 40600, up 6.9% from a year earlier.

China, the world's largest single market for Jaguar Land Rover, has achieved double-digit growth for three consecutive months, with sales up 40 per cent in July, 17 per cent in August and 18 per cent in September.

Chandra Sekaran said sales of the Jaguar Land Rover brand in China fell 50% in 2018 compared with the same period last year, and although sales in the Chinese market improved in 2019, there are still many difficulties in sales in the Chinese market.

Jaguar Land Rover's sales woes are dragging down Tata Group, with cumulative losses of 3.6 billion yuan in 2018 and global sales of 1.28615 billion vehicles in the second quarter of 2019, down 11.6 per cent from a year earlier, with a pre-tax loss of £395 million and quarterly revenue down 2.8 per cent to £5.07 billion, according to data.

To ease the financial pressure, the Jaguar Land Rover brand announced a cost reduction and efficiency plan in the third quarter of last year, which saved the Jaguar Land Rover brand £100m in expenditure in the first quarter of this year, and the actual optimization effect has reached £1.7 billion. The plan aims to achieve a total of £2.5 billion in cost, profit and cash flow optimization by March 2020.

Based on current sales and revenue, analysts at Sanford Bernstein, a Wall Street investment bank, said last month that Jaguar Land Rover faced serious operational and financial challenges. BMW was overcapitalized and well-funded and proposed to buy Jaguar Land Rover.

Chandra Sekaran said that although the group has been looking for a partner for Jaguar Land Rover, it has no plans to sell the Jaguar Land Rover brand.

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