Jaguar Land Rover says it had secured a 175 million pound loan

The State Bank of India will be providing Jaguar Land Rover with a 175 million pound ($277.7 million) loan. In addition, JLR, which is owned by Tata Motors Ltd., said it had also recently agreed to a new $90 million committed export financing facility with ABC International Bank.

These two loans are part of 500 million pounds of new financing completed this year in line with its plan to enhance its funding. In a statement, Jaguar Land Rover Chief Financial Officer Kenneth Gregor said that the company is glad that funding plans are progressing. Last August, Tata Motors revealed that JLR made a pre-tax loss of 62 million pounds during the fiscal first quarter, and that the unit’s sales had fallen about 52% in the quarter from the same period a year ago.
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ucla95 - 10/9/2009 11:37:06 AM

+2 Boost

Here's an example of why they're losing money - I went to my dealership yesterday to buy an XFR. They searched the color combo I wanted and said none exist on US soil right now. So I said fine, let's order one - the salesman emails me back a few hours later and said Jaguar will not take a new order for an XFR - I presume because so many are unsold on dealer lots (but again, none in my color combo). They are actually refusing to take my money! LOL Time to buy an M5 instead...

MSP6 - 10/9/2009 12:08:44 PM

+3 Boost

Similar experience happenned to me, I was about to close a deal on a Ferrari... But then I woke up. It was only a DAMN dream.

Got pissed all day.

truckman - 10/10/2009 2:23:42 AM

+1 Boost

This money will go to the corporate people making all the wrong decisions.

dmc8260 - 10/10/2009 10:03:43 AM

+1 Boost

ucla95 FYI, all 500 scheduled to be built have been. As for your presumption my dealership has delivered 6 and wish we could get more but no dealer wants to give them up.