Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Media accused of pro-protester bias in Ferguson

Read more

DEBATE

The Murderous Lure of Jihad: Tackiling ISIS and its Worldwide Recruitment (part 2)

Read more

DEBATE

The Murderous Lure of Jihad: Tackiling ISIS and its Worldwide Recruitment

Read more

FOCUS

Republicans block Obama's bid to hike minimum wage

Read more

WEB NEWS

Calls for ISIS media blackout after execution of James Foley

Read more

WEB NEWS

Web users divided over Darren Wilson

Read more

WEB NEWS

Web users take on 'Ice Bucket Challenge' to fight ALS

Read more

ENCORE!

From Paris's Liberation to 'arresting' art in Avignon

Read more

INSIDE THE AMERICAS

Ferguson riots: Pressure mounts on Obama

Read more

  • US says Islamic State threat 'beyond anything we've seen'

    Read more

  • Reporter’s IS captors taunted family, asked for €100m ransom

    Read more

  • Two US Ebola patients leave hospital ‘virus-free’

    Read more

  • Hollande is ‘nobody’s president’ says former French minister

    Read more

  • Turkey’s Erdogan names foreign minister Davutoglu as next PM

    Read more

  • US reaches historic $16.7bn settlement with Bank of America

    Read more

  • Special report: Supplying Ukraine’s soldiers on the front line

    Read more

  • Israeli air strike kills three top Hamas commanders

    Read more

  • France delivered arms to Syrian rebels, Hollande confirms

    Read more

  • Tensions high in Yemen as Shiite rebel deadline looms

    Read more

  • Interactive: Relive the Liberation of Paris in WWII

    Read more

  • French village rallies behind besieged elderly British couple

    Read more

  • Former Irish PM Albert Reynolds dies at 81

    Read more

  • Former Femen activist detained after fighting veiled woman

    Read more

  • Thailand coup leader Prayuth Chan-ocha voted prime minister

    Read more

  • Brazil’s Silva launches bid after Campos plane crash death

    Read more

Business

Tata Motors brings Jaguar, Land Rover to India

Text by NEWS WIRES

Latest update : 2009-06-29

India's Tata Motors has unveiled plans to launch three models each from British luxury brands Jaguar and Land Rover in the fast-growing Indian market.

AFP - India's Tata Motors on Sunday announced the entry of luxury British marques Jaguar and Land Rover into India, but insisted there were no plans to assemble them in the country for the time being.
   
Six models -- three each from Jaguar and Land Rover -- will be sold from Monday in India, which is amongst the world's fastest-growing global automobile markets.
   
"This launch ushers in a new breed of vehicles in India, which had been disconnected with consumers here for some years," Ratan Tata, chairman of the Tata Group, told a news conference in Mumbai.
   
The Jaguar range includes the XF, XFR and XKR models while the Land Rover brands coming to India will be Rover Discovery 3, Range Rover Sport and the basic Range Rover.
   
All models will sell for between 6.3 million rupees (about 131,000 dollars) and 9.2 million rupees at a new purpose-built showroom in Mumbai.
   
"The Jaguar and Land Rover cars had been condemned in the downturn (but) they are terrific brands," Tata said.
   
Senior Jaguar and Land Rover executives were reluctant to divulge how many cars they expected to sell in India, where the luxury car market already includes rivals like Italy's Porsche, Germany's BMW, Mercedes and Audi.
   
"India's premium car market is small but with a huge potential," said Land Rover Managing Director Phil Popham.
   
Tata Motors on Friday posted its first consolidated full-year net loss in eight years at 25 billion rupees (520 million dollars), partly blamed on a slump in sales at Jaguar Land Rover, which it bought from Ford last year.
   
Jaguar Land Rover global sales dropped nearly a third in the 10 months to the end of March to 167,000 vehicles from 246,000 the previous year.
   
That prompted the company to say it would not rule out further job losses and plant closures in Britain, where the cars are produced.
   
Jaguar Land Rover chief executive David Smith told reporters the British workforce were "realistic" about the possibility.
   
"If the market dictates, future jobs and plant shutdowns cannot be ruled out" if the economic situation deteriorates, he added.
   
Some 2,000 workers have lost their jobs in a tumultuous couple of years for both luxury brands, but Ratan Tata said there were no plans at present to switch production to India to reduce overheads.
   
"Whether we produce or assemble Jaguar or Land Rover in India will depend on the business case at that time," he said. "I don't think we have any plans for the present moment to do so."
 

Date created : 2009-06-29

COMMENT(S)