Jaguar Land Rover has rubbished reports of £206m loss
25 September 2008

Jaguar and Land Rover have denied reports that the companies lost £206m in the first six months of this year.

“It’s a matter of record that we made an operating profit of £371m [$625m] in the first half of this year,” said company director Don Hume.

The loss figure of £206m surfaced in a prospectus issued as part of Tata’s fund-raising for the JLR purchase and was picked up by agencies in Mumbai, where Tata has its headquarters.

“When Ford sold JLR it chose to write off assets, taxes and liabilities against JLR,” said Hume, “but we are a profitable company.”

A statement from Tata said: “These are adjustments relating to Ford consolidation or accounting adjustments and hence not reflective of JLR’s business performance.”

Analysts’ recent concern over Jaguar’s US sales figures has proved unfounded.

Jaguar sold 10,925 cars in the US and Canada in the first half of 2008, compared with a total of 13,994 for the whole of 2007. Land Rover has sold 16,505 cars in North America in the same period, compared with 56,069 for 2007.

Globally, Jaguar sold 55,890 cars last year and had already sold 39,963 by the end of June this year.

Julian Rendell

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5

25 September 2008

Luckily for JLR company director Don Hume, when it somes time to sack hundreds, quite possibly thousands of JLR workers, he will not have to face the fate that befell the boss of a car parts maker in JLR's parent company's homemarket, India:

Outrage as Indian minister says murder of CEO by sacked mob 'serves as a warning'

http://www.timesonline.co.uk/tol/news/world/asia/article4817414.ece

'Indian business leaders were outraged last night after a government minister said that the murder of a chief executive by a mob of sacked workers “should serve as a warning for management”.

Lalit Choudhary, 47, the head of the Delhi-based operations of Graziano Transmissioni, an Italian car-parts maker, died of head wounds on Monday after being beaten by scores of employees he had earlier dismissed.'

25 September 2008

To deny losing $200 billion is totally illogical . I bet Ford is glad to get rid of that money pit.

25 September 2008

No it's not illogical - it's been explained perfectly

" When Ford sold JLR it chose to write off assets, taxes and liabilities against JLR,” said Hume, “but we are a profitable company.”

A statement from Tata said: “These are adjustments relating to Ford consolidation or accounting adjustments and hence not reflective of JLR’s business performance.”

25 September 2008

Sorry your logical answer has confused me

I must meditate

25 September 2008

Autocar wrote: Jaguar sold 10,925 cars in the US and Canada in the first half of 2008, compared with a total of 13,994 for the whole of 2007. Land Rover has sold 16,505 cars in North America in the same period, compared with 56,069 for 2007.

Land Rover sales have collapsed in North America then, doesn't look good for the results at the end of this financial year.

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