Forster's exit will not affect JLR sales: Tata
Tata Motors said that the sudden exit of the Group MD and CEO of Tata Motors, Mr. Carl Peter Forster will not have any impact on the prospect of Jaguar Land Rover. Speculations in the car market suggest that exit of Mr. Forster will have a negative impact on its 2 brands and on their turnaround. According to the company’s spokesperson, it is completely wrong to credit the turnaround of JLR to Mr. Carl Peter Forster.
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If reports and other statistics are taken into account, soon after the dip in sales in 2008-09, Jaguar Land Rover made an impressive profit of Rs. 325.27 Crore in the quarter that ended in the month of September 2009, which boosted Tata Motors’ combined net profit to a whopping Rs. 21.78 Crore as compared to a massive loss of Rs. 941.75 Crore in the same time frame about a year ago. As per the spokesperson of Tata Motors, the turnaround of Jaguar Land Rover was because of the winning efforts that the management team of the company made to slash down the cost and then successfully introduce new Jaguar XJ and Jaguar XF sedan.
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Furthermore, the JLR business has been walking on the path of operating plans that was put in the position after Tata Motors took over the entire business. The first quarter, which ended up in the month of June 2011, at that time Tata Motors posted the profit of around Rs. 1,999.62 Crore. The reaction after the resignation of Mr. Forster, Tata Motors saw 3.09% tanked on the BSE, which came out to be Rs. 148 per share. The sales of JLR from the period of April to July this financial year were approximately, 81,209 units, which is a rise by 6%.
