David Smith, CEO of Jaguar Land Rover, has said the two-brands will be able to operate with more freedom under the ownership of Tata, free from the financial constraints which tied them down at Ford.

Smith told the Financial Times: "Financial constraints had made life much more difficult at Ford.

"Tata wants us to be more autonomous, I’ve got all the executive authority I need to make day-to-day decisions without having to consult with Tata board members."

Smith will meet with Tata's chairman, Ratan Tata and its chief executive, Ravi Kant every couple of months to review progress on plans strategies and future products.

JLR is currently implementing plans to move the brands upmarket into the £100,000 area and the recruitment of 600 more engineers.

UK dealer group Inchcape announced it would be sticking with JLR after meeting with Tata bosses in Mumbai. It was convinced by the new direction Tata would be taking.

To read more about Inchcape's continued relationship with JLR and coverage of its interim statement see AM's August 8 issue. To subscribe to AM magazine click here or call 01733 468659.