Tuesday, September 13, 2011

Tata says Foster’s exit has no impact on JLR’s revival

The Indian auto giant Tata Motors has said that the exit of its Group CEO and Managing Director Carl-Peter Forster, will not impact the turnaround of its British subsidiariy Jaguar & Land Rover. The statement added that crediting the former executive completely for turning around the British marquee would be wrong. The statement further added that while Forster had joined the Tata Motors in February 2010, the turnaround in JLR took place about 24 months back.

It is to be mentioned here that Tata Motors had acquired Jaguar & Land Rover in December 2008 from US auto giant Ford Motors, at a time when these were loss making firms. The sales of both of the firms started recovering soon after they entered into Tata’s regime.

In a statement given by Tata Motors Spokesman, "The Jaguar Land Rover business has been following the operating plans put in place after Tatas took over the business."

In the first four months of this financial year, the sales of Jaguar Land Rover stood at 81,209 units, accounting for a surge of 6 percent over the units sold same period last fiscal. While the sales of jaguar Cars fell 26 per cent at 15,715 units, the sales of Land Rover surged 18 percent at 65,494 units.

Tata Motors is rapidly expanding its footprints of its British subsidiaries in the global market, by debuting them in a number of foreign markets.

Source: www.CarTradeIndia.com


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