Jaguar Land Rover Selects Chase as Exclusive U.S. Financing Provider

Gaydon, England - Jaguar Land Rover has selected Chase to be its exclusive auto finance provider in the United States of America, offering a full range of automotive financial services for its customers and dealers. The agreement with Chase, part of JPMorgan Chase & Co, will replace the arrangement with Ford, whose financial arm provided support during the Ford ownership of Jaguar Land Rover.

Under the arrangement, Chase will take on all Jaguar Land Rover’s consumer financing activities in the US from 1st January 2009.

Jaguar Land Rover chose Chase because of its long established presence in the market and its relationship with the Jaguar and Land Rover networks. Chase will be able to offer Jaguar and Land Rover branded products to customers and dealers. Chase is the consumer brand of JPMorgan Chase & Co, a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries.

The identification and confirmation of a set of new financial partners were key elements of Jaguar Land Rover’s transition away from Ford. The process was completed earlier this year in Europe with the appointment of Fiat Group Automobiles Financial Services (FGAFS), a 50%-50% joint venture between the bank, Crédit Agricole Group and Fiat Group Automobiles.

Notes for editors:

Jaguar Land Rover is a business built around two great British car brands that design, engineer and manufacture in the UK. Jaguar Cars Limited, founded in 1922, is one of the world’s premier manufacturers of luxury saloons and sports cars. Since 1948 Land Rover has been manufacturing authentic 4x4s that define ’breadth of capability’ in their segments. The Jaguar XF, XJ and XK models are manufactured at the company’s Castle Bromwich plant in Birmingham, while the Jaguar X-TYPE is produced alongside the Land Rover Freelander 2 at the Halewood plant in Liverpool. Land Rover’s Defender, Discovery 3, Range Rover Sport and Range Rover models are all built at the Solihull plant. The Jaguar Land Rover business employs some 16,000 people, predominately in the UK, including some 3,500 engineers at two product development centres in Whitley, Coventry and Gaydon, Warwickshire. The business is a major wealth generator for the UK with 78 percent of Land Rovers exported to 164 countries and 70 percent of Jaguars exported to 63 countries, with sales to customers conducted principally through franchised dealers and importers.