Perhaps Ford has been denying rumors that Jaguar is up for sale simply because no one is interested in buying the British luxury car company. The latest automaker to drive away from market speculation is Hyundai. On Friday, the Korean company, which also owns the upstart Kia badge, issued a statement denying any interest in the brand. Rather, Hyundai said its money would be better spent on the expansion of North American and Asian production facilities, and in new fuel-efficient engine technologies. Jaguar would give Hyundai neither new factories in its key markets or next-generation engines, rather it would provide facilities in Europe and engines with as many as 12 cylinders. The rumor surrounding the prospects of Hyundai buying Jaguar may have stemmed from the Korean automaker itself. The company confirmed that at one-time it had considered buying a luxury brand to add to its portfolio, but instead opted on developing its existing brands.—Matthew Wurtzel
See story from Bloomberg
See related story from Fortune
See earlier posts
Continue reading below
