JLR was a worthwhile acquisition: Tata

Tatas bought UK-based Jaguar and land Rover last year for USD 2.3 billion. But soon,global recession badly hit car sales.

“Sales of Jaguar and Land Rover brands declined by 20 per cent and 51 per cent respectively from October 2008-March 2009 as compared to the corresponding period in the previous year as the demand for premium vehicles declined,” the report observed.

The main challenge in JLR would be to sustain operations through this difficult period arising from the global financial meltdown,it said.

There was good reason to believe that the company’s new products and more aggressive marketing would see the company through,the report said.