Jaguar Land Rover Sticks to Brazil on Promise of Luxury Rebound [Bloomberg Business News]
Tata Motors Ltd Tata Motors Limited (TTM)
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Source: Bloomberg Business News
LISTEN TO ARTICLE 2:00 Print Jaguar Land Rover can churn out 24,000 cars a year in Brazil. Last year, fewer than 5,000 rolled out of its Rio de Janeiro factory. But the luxury carmaker, a British unit of India’s Tata Motors Ltd. , isn’t bailing anytime soon. It’s got faith -- and a lot of money invested -- in the Brazilian market. "Theoretically, Brazil has everything to have strong growth in the next year," said Frederic Drouin, managing director for Latin America at Jaguar, who added that shuttering the factory is out of the question. "We need to believe in the future." While auto sales have improved since the country’s worst-ever financial crisis reared its ugly head a few years ago, the industry is still waiting for a return to more halcyon days. The economy is a bit better, and the industry is hopeful that the government will sign off on a long-term policy that would include tax incentives for automakers. Jaguar Land
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