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Tata considers more Jaguar/Land Rover cuts after massive loss

by Jeremy Korzeniewski (RSS feed) on Jun 26th, 2009 at 3:57PM

India's Tata Motors has reported a net loss of $520 million (25.05 billion rupees) for the fiscal year ending in March of 2009. Over the same period one year earlier, Tata managed to earn 21.68 billion rupees in profit. What gives? Naturally, the global economic meltdown didn't do the automaker any favors, but the main problem can be sourced back to the poor performance of Jaguar and Land Rover, which the Indian automaker purchased from Ford last year with the help of a $3 billion bridge loan.The fact that Jaguar Land Rover accounted for $504 million of that $520 million total loss means... Read More

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