Indian car company Tata Motors was pushed into its first loss in eight years thanks in part to sluggish sales from its newly-acquired luxury units, Jaguar and Land Rover. The automaker’s Vice Chairman, Ravi Kant, indicated that Tata might further trim production and jobs to keep pace with the diminished demand.
Speaking at a news conference, Kant said, “There has already been 2,000 job losses. We may be looking at more job losses, more plant shutdowns.”
Jaguar Land Rover, the newly-unified, former Ford Motor Company brands, posted a pretax loss of about $465 million during the first ten months of the 2008-09 fiscal year. It is unclear just where the cuts could be within Jaguar and Land Rover.
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06/26, 12:19 PM
posted by:
johnnycanuck
Gonna have to move a lot of Nanos to make that up. What kind of profit margin do you think they make on a Nano- 10,000 Rupee or so? That’s a little over $200 US per car so they’re going to have sell at least a couple million Nanos to make up that 465 million. Could take weeks.
06/26, 12:46 PM
posted by:
DenverGuy217
But they could offer each one with a high profit accessory package like go-fast racing stripes and chrome wheels etc. Vroom Vroom The Nano GT It’ll sell like hotcakes
Or make a Nano Vanden Plas edition
06/26, 3:44 PM
posted by:
shahedc
I guess Mr. Kant does not have a “Kan Do” attitude…
06/26, 4:37 PM
posted by:
mayer_ray_nagin
I think a Land Rover Nano is a great idea Johnny, what with the RR edition of the Mini coming out now.
I also think a Maybach version of a Geely makes sense.
06/26, 5:13 PM
posted by:
2WheeledSpeed
Tata doesn’t know anything about running a Luxury car company. They just bought these companies and now they’re firing everybody?
06/26, 5:47 PM
posted by:
Borat
Johnny, here a thought: what if they screw more often? Population explosion and need for Nanos! Wait error of my ways, it already happened: billion of them.
06/27, 10:29 AM
posted by:
AutoCritical
Perhaps now Tata have realized why they were sold in the first place!
06/29, 10:19 AM
posted by:
GT Pro
I can understand LRs being difficult to sell during these fiscally-tight times and also Jaguar. That said, the prestige Shagwar brand now has in place the two brilliant new-era XF and XK modesl and is slowly readying their mainstay X/XJ resurgence, so why they are struggling to keep afloat seems to be more so a problem of inexperienced Tata mangement than anything else.
06/29, 11:27 AM
posted by:
Need more oil for GM
Anyone who works for a foriegn automaker deserves to lose their job.
GM. AN American Revolution
06/29, 5:34 PM
posted by:
sharpie
AutoCritical, my thoughts exactly!