Jaguar parent group slumps to £267m loss

The Indian owner of Jaguar Land Rover today said it slumped to losses of £267m (€312m) in the year to March 31 as the global downturn punishes the car industry.

The losses at Tata Motors, which bought the company from Ford for $2.5bn (€1.77bn) in June last year, compared with a £388m (€454m) profit the previous year.