Jaguar Land Rover shows £280m loss in ten months
By Andrew C., 27 Aug, 2010. 0 Comments
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In the latest news, Tata Motors have warned that it may have to cut jobs after Jaguar Land Rover has reported a loss of GBP280 million covering ten months.Furthermore, Tata also revealed that more shutdowns are possible at Jaguar Land Rover's facilities in Castle Bromwich, Coventry and Solihull. To date, Tata has lost 2000 jobs and they are expecting more jobs to be lost and more facilities closed down. There are at present about 14,500 workers at Jaguar Land Rover, with 450 redundancies created since the year began.
Jaguar and Land Rover sales fell 32 percent in ten months ending in March 31. Last year they sold 246,000, while they only managed to sell 167,000 this year.
The reported GBP280 million loss fell under the same period when Jaguar Land Rover came under Tata's ownership. The company is currently in talks with the UK government concerning some kind of assistance. It is remembered that Tata bought Jaguar Land Rover from Ford in June last year for GBP1.7 billion. [via autocar]
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