Home / Auto News / News article: Tata Motors Posts Net Loss Due to Struggling Jaguar and Land Rover Unit - AutoGuide.com News
 |  Jun 29 2009, 12:53 PM

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Tata Motors has posted its first annual loss in eight years due to a significant drop in demand for vehicles from its newly acquired Jaguar Land Rover (JLR) unit. The Indian automaker, also known for manufacturing the world’s cheapest car (the Nano), posted a net loss of $520 million for its 2009 fiscal year, with a $504 million loss at JLR.

In the 10 months since Tata bought JLR from Ford Motor Co., the division moved just 167,000 units – compared to 246,000 units during the same 10 month period the year before.

Tata’s Vice Chairman Ravi Kant told a news conference that the automaker was continuing to search for ways to cut costs and he did not rule out job cuts and plant closures.

Tata’s fiscal calendar ended at the start of March, and Tata says JLR has posted better numbers since then.

[Source: Reuters]

  • Yogendra

    I am lucky enough to get Nano allotment for deliver b4 sept 2009.Its an irony that TML suffered huge losses due to expenses into making world most expensive cars & have assured income coming from making the world’s cheapest car “THE NANO”.Thus real success & feather in the cap is due to “The People’s Car” & not because of vehicles made for the luxuries of few billionaires.Common man or the masses are filling the big holes created due to expenditure on luxuries that billionaires could avail.Thus Nano is a BIG Victory & Jaguar & Land Rover a Big Downfall.Entreprenuers must focus on needs & aspirations of the common masses if they want to grow & survive,making high end luxury brands is icing on the cake which may vanish anytime & leave u gasping for life.Tata Salt & Tata Nano are the best sellers here not Jaguars & Rovers

  • Jennifer Andrade

    Ratan Tata you are simply the 8th WONDER OF THE WORLD……

    Good Luck and God Bless for all your future endeavours!!!!!

    Yours only,
    Jennifer
    Doha, Qatar.

  • Brad

    lol =))

  • BHARAT B DUDHAL

    MR RATAN TATA ACCORDING TO ME U R THE TAJ OF INDIA GO ON AND BANG ON TO THE WORLD. i WANT TO SEE TATA SHOULD BE NO 1 AUTO SEC.