JUNE 27,2009
MUMBAI: Tata Motors posted its first annual loss in eight years and announced more job cuts and plant closures at Jaguar
and Land Rover as the
worst global recession in more than seven decades slashed demand for the marque brands purchased by the company last year.
Tata, the maker of Indica and Nano cars, posted a consolidated loss of Rs 2,500 crore for the year ended March,
while sales slumped 37%. The last time the company had made a loss was in 2000-01, when it experienced a similar
demand slump for trucks and its small car, the Indica.
Source: http://economictimes.indiatimes.com/News/News-By-Company/Earnings/Tata-Motors-reports-first-annual-loss-in-8-years/articleshow/4708483.cms
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