JLR Microcat renewal, page-16

I have a question mark beside Perpetual. I don't know whether they have a huge sell down, but they hold 10% of shares and I suspect have sold off a bit to reduce some further downside risk.

A whopping 5.6% of IFM's stock changed hands Friday, even though the facts were apparent before the market opened (and before the IFM announcement). Whether any sell down in the 51c to 61c range is wise depends on the mid-term price of this stock. I'm cautiously optimistic, but the Hy16 report needs to reveal progress with existing clients (e.g. rollout progressing to Hyundai USA dealers) as well as reasonable opportunities for business growth with potential clients.

ckc's post about switching to Clifford may be partly true. Jaguar still uses Ford parts, although Mint magazine recently indicated that the Jaguar XE will be the first without Ford parts. That might account a bit for switching to Clifford, but I wonder whether JLR was granted proprietary access to the Ford eCat code (as it apparently attempted last year with IFM's superservice). Without being too catty, remember that Land Rover vehicles (including recent models) remain at or near the bottom of reliability ratings among luxury vehicles (multiple sources in US and Europe) in spite of perplexing popularity in OZ, UK, and somewhat in the US. Jags have good reliability but continue to lose market share.