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.
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