Tata Loses $67 Million in Most Late Financial Fourth
Ford never could figure out how to make money on Jaguar and Land Rover, and now Tata Motors is struggling with the very same problem, albeit in . much tougher economy. The Wall Street Journal reports that the company posted . net loss of $67 million (3.29 billion rupees) for the fiscal quarter ending June 30. In the same quarter last year, Tata recorded . net profit of $147 million (7.2 billion rupees).
With the addition of the Jaguar /Land Rover model lines, Tata '. net sales were actually up 13 percent year over year, says the WSJ — yes, even though Jaguar -Land Rover unit sales were way down in the …. and Europe. But this wasn'. enough to offset the added expense of owning these two brands.
So now there'. just . little more on the line with the make-or-break launch of the redesigned 2010 Jaguar XJ, which goes into production this fall.
Wall Street Journal (sub.req)
First Look:.2010 Jaguar XJ
