Tata: Still Reeling from Its Jaguar-Land Rover BuyBy
Is Tata Motors (TTM) out of the woods? The Indian company shot into the international limelight in 2008 with the troubled launch of its ultra-cheap Nano and its debt-loaded purchase of Jaguar and Land Rover from Ford (F). Since then, its fortunes have been unsure, as the slump in demand for automobiles has depressed its revenues at the same time Tata has invested nearly $400 million in the Nano launch and struggled to pay off the expensive $3 billion loans it racked up for the Jaguar/Land Rover shopping bill. All through the fiscal year ended March 2009 the company bled money, losing a record $517 million on $14.7 billion in revenues, just on its India operations. Jaguar and Land Rover lost an additional $510 million in the 10 months Tata owned it until March 2009.
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