The Year That Was: Jaguar Land Rover

Most of Tata Motors‘ 2015 was disappointing, with volume sales of both the luxury division, Jaguar Land Rover, and the standalone business remaining below expectations. JLR forms over 90% of the company’s valuation, as per our estimates, and hence will remain the focal point of our discussion. The slowdown in China hampered JLR’s overall sales, especially as the country was once the brand’s main growth driver. However, the spurt in volume sales towards the end of the year, especially in ...