PTI reported that Mr Ratan Tata chief of TATA Group termed the buyout of Jaguar and Land Rover as a terrific decision and hoped to bring back glory for the luxury brands.

Mr Tata said "We at TATA Motors are proud to have these brands. It was a terrific decision that we took to bid for these 2 brands and own them. Together we can make them go back to the glory that they have quite rightly and deservedly had over the years."

He said the 2 premium brands have a terrific R&D behind them.

He said "We are going through a downturn recently that has an unfortunately somewhat condemned Jaguar and Land Rover in perception, that perception is very wrong. The 2 brands are terrific brands. There is a terrific R&D behind them. It is for us to manage to put them into products and bring the products into production."

(Sourced from Press Trust of India)