Tata Motors is most likely to report loss for the first time in past 8 years. The company has already put its future plans on hold and most of its plans that were on the drawing board have been delayed by at least 6-8 months. Tata Motors' UK subsidiary owns luxury brands Land Rover and Jaguar which are mainly seen as the reasons for poor performance. Moreover, its Singapore unit has also recorded poor sales last year.
According to experts, the net loss reported by the company can be close to nearly Rs. 300 crores. In distant past, the company had reported stand alone loss of Rs. 500 crores in 2000-01 mainly due to weak performance of its commercial vehicle sales. There is no official word from the company so far and it is slated to announce its consolidated results on June 26, 2009.
Tata Motors is also inaugurating its first JLR showroom in India on June 28th in Mumbai. The new showroom is located at Ceejay House in Worli, Mumbai. It intends to open other showrooms in Bengaluru and Ludhiana subsequently. All the Land Rovers and Jaguars will be sold by the Premier car division of Tata Motors that will handle all sales and service for both the brands.
