Tata Promises to Restore JLR Lost Glory

Chairman of Tata Motors Mr. Ratan Tata has called the acquisition of Jaguar and Land Rover as a terrific decision on the company's part. He said he hoped to restore the glory of the two luxury car brands.

Speaking to reporters at the launch of Jaguar and Land Rover in India, Mr. Tata said "We are proud to own these brands. It was a terrific decision taken at the time to bid for these brands and come to own them. Together the car companies can make a huge difference. We can help bring back the glory that these brands enjoyed in the past."

Despite all the hype, Tata Motors was forced to concede a net loss of Rs 2.505.25 Crore for the last fiscal year, for which the JLR deal is blamed as the primary cause.

Mr. Tata explained that the economic slowdown has hit the premium car brands too. However, they have a great research and development wing which can be utilized by us to put the products back in the market and revive production. Tata Motors had acquired Jaguar and Land Rover for U.S. $ 2.3 billion from Ford Motors. The positive approach by the Indian car manufacturer is the effect of the Jaguar turnaround which is now posting profits. After being introduced in Russia and China, Jaguar and Land Rover models have now set foot in India. Each brand has introduced three models each.