India's Tata Motors yesterday lifted the lid on the performance of its UK carmakers Jaguar and Land Rover, revealing huge losses as it warned of "drastic cost-cutting". The group said the recession's effect on the luxury marques it bought from Ford in June last year led to a net loss of Rs25.1bn (€370.8 million) in the year ending March, its first loss in at least seven years. - (Copyright The Financial Times Limited 2009)