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The steep downturn of the world's luxury automotive markets has taken a toll on Jaguar/Land Rover, and the company's bottom line has taken a huge hit as a result. Automotive News is citing a Financial Times report that says Tata Motors' British luxury marques lost 673.4 million pounds ($1.11 billion U.S.) in 2008. That's a $2 billion swing from the 641.5 million pound ($1.05 billion) profit the British brands earned in 2007. Tata Motors said last month that Jaguar/Land Rover lost 306 million pounds ($504 million) for for the fiscal year ending March 2009.

The Financial Times report comes as Tata Motors is working out a deal with the British government to provide short-term financing for the cash-strapped automaker. The report that says the U.K. government is willing to provide a 175 million pound ($288 million) commercial bridge loan to keep operations running. The reports says Tata Motors would like a 12-month loan, while the British government would like a six-month term, along with representation on the board.



[Source: Automotive News]


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  • 13 Comments
      • 5 Years Ago
      Go away Spammer.
      • 5 Years Ago
      I presume auto sites just store this headline in a vault for safe keeping since the have to roll it out every 3 years. Net over the last 20 years, how much money have these companies lost?
      • 5 Years Ago
      Those photos of Elle never get old!
      • 5 Years Ago
      Smart move by Ford to sell them off.
        • 5 Years Ago
        Smart move by BMW to sell them off too.
        Dumb move by Ford to buy them off BMW.
        Smart move by Ford to sell them off.
      • 5 Years Ago
      How many years since Ford bought Jaguar has it earned profits? I wasn't aware it made so much in 07, but were there profits in years prior?
      • 5 Years Ago
      Government handouts for everybody!
      • 5 Years Ago
      The British Government wants representation on the Jag/LR board? Seriously, you nearly KILLED Jaguar and a handful of historic companies with your British Leyland. I don't blame Tata for resisting!
      • 5 Years Ago
      Alan Mulally must be feeling happy that he got rid of these two money sucking brands nearly two years ago.
        • 5 Years Ago
        Selling Jaguar and Land Rover just before the economy tanked was one of Mulally's best decisions.

        Given Tata's own financial problems, I can't see things ending well for Jaguar and Land Rover.
        • 5 Years Ago
        A little foresight goes a long way. Where are all thoes people that where screaming about how dumb Ford was for selling Jaguar?
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