Filed under: Sedan, Performance, SUV, Jaguar, Land Rover, India, Tata, Luxury, Off-Road
While many confusing car-related things have happened in the upper strata of the Autoverse over the last few years (Aston Martin and Ferrari both being impart owned by Middle Eastern concerns, Aston Martin not being bankrupt) perhaps the most shocking and disconcerting was Ford's sale of Jaguar and Land Rover to India's Tata. To many, the scheme seemed doomed from the get go and after a couple cash-hemorrhaging quarters coupled to the recent recession, the naysayers appeared right.
Turns out, Tata can say nay to the naysayers as its two prestige/luxury brands just turned a profit. A combination of cost cuts and attractive new models (
LR4,
XF) have helped catapult the long time money losers into the black. And while the $4.7 million in consolidated net profits last quarter is certainly nothing to jump for joy over, that nearly five million bucks is a nice change of pace from the usual Jag/Landy blood red ink. JLR sales rose 23% over the previous quarter. Rule Britannia! Er, India.
[Source:
Gasgoo | Photo: Christopher Furlong/Getty Images]
REPORT: Tata Motors back in the black as Jaguar/Land Rover fortunes improve originally appeared on Autoblog on Mon, 30 Nov 2009 19:00:00 EST. Please see our terms for use of feeds.
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01-12-2009, 03:20 AM
