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| Jaguar Land Rover may break even by FY11 |
| Press Trust Of India / New Delhi Aug 18, 2009, 00:54 IST |
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Fuelled by improved volumes and expected recovery in the global economy, Tatas-owned Jaguar Land Rover is expected to break even by financial year 2011, says a brokerage report.
Further, a break even scenario for the luxury car maker could substantially boost the earnings of its parent Tata Motors.
“We expect a recovery in JLR volumes by FY11, led by the anticipated recovery in the global economy as well as new model launches.”
“We believe the twin effect of volume-recovery and aggressive cost cutting measures would likely lead to break even for JLR by FY11,” brokerage firm IDFC SSKI said in a report.
Tata Motors acquired JLR from American car maker Ford Motor last year for about $2.3 billion.
JLR has been severely hit by the ongoing financial turmoil and has witnessed falling sales. Moreover, Tata Motors reported a loss of Rs 2,300 crore for the fiscal year 2009, primarily bogged down by the losses at JLR.
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