Tata Motors in Trouble |
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"The rapid reversals at Tata Motors, which is probably the most internationally visible of Indian automakers, mirror the suddenness with which many Indian companies have seen their fortunes change as global lines of credit have frozen and the local economy has slowed down."1 - BusinessWeek in January 2009. "We are clearly in very difficult times, in difficult trading conditions. Unfortunately, what we've got now is a situation where consumers aren't spending and banks aren't lending, so it's a double whammy."2 - David Smith, CEO, JLR, in January 2009.
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1] Mehul Srivastava, "Tata Motors' Reversal of Fortune,"www.businessweek.com, January 30, 2009. |
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