However, he made a passing comment saying that if Jaguar and Land Rover were up for sale separately, the company would have just looked at Land Rover. Talking about the benefits of the buy-out, Tata said, JLR gives us entry into high-end and performance cars. And we get access to defence through the Land Rover range.
Volumes of JLR over the 10 months post acquisition reduced by 32% compared to the comparable period in the previous year resulting in loss before tax of 281 million pound. Tata Motors had acquired the two brands on June 2, 2008, from Ford Motor Company for $ 2.3 billion in an all-cash transaction.
Indicating that the economies are showing signs of recovery, Tata said the Indian economy would recover faster than the others. He said, Indian automobile industry once again will take a cornerstone of becoming a manufacturing base.
On the much talked about Nano, the company said that the Sanand plant in Gujarat would be ready by early next year and the focus would continue to be on the Indian market. We plan to launch Nano Europa by 2011-12, said Tata.