Tata announces loss and plans to slash capital expenditure (Financial Times)

Written by Admin on January 30th, 2009 in Uncategorized.

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India’s two largest carmakers were hard hit by plunging car sales in the last quarter of 2008, with Tata Motors yesterday reporting a Rs2.6bn ($53.2m) loss, its first quarterly loss in seven years, and down from a Rs4.9bn profit a year ago.