Jaguar and Land Rover may have turned over new leaves with the recent launch of the new XJ and the strong showing of the Range Rover SUV , but they still couldn’t escape the reality of seeing the staggering amount of money – to the tune of $1.1 billion - they lost in 2008.
It’s a mind-numbing number that can be attributed to the global financial crisis, which has battered the auto industry. In their defense, the two manufacturers aren’t alone in reporting losses from the previous year, but it must be a bitter pill to swallow for both automakers, especially when they reported a profit of $1.05 billion in 2007.
What goes around does indeed, come around.
Continued after the jump.