The loss suffered by the Banbury Road company was made between June last year - when it was taken over by Tata Motors - and the end of April 2009.

Sales fell by 32 per cent, with the number of vehicles sold down from 246,000 to 167,000.

Indian firm Tata, which bought Jaguar Land Rover from Ford for £31.7 billion last June, made a net loss of £315 million in 2008.

A Jaguar Land Rover spokesman said: "This is the first time the company has been included in Tata Motors' earnings report and reflects a reversal in the company's fortunes since its purchase last June.

"Prior to this Jaguar Land Rover had reported a strongly profitable 18-month performance in the period up to the end of May 2008.

"It has since then taken unprecedented actions to cut costs, including reduced production volumes, significant cuts to investment plans and some 2,000 job losses."

Speaking on Monday at the opening of Jaguar Land Rover's first showroom in India, the firm's chief executive David Smith admitted that further job cuts were a possibility.

He said: "We've always said that is market conditions dictated, we would take further actions.

"That could involve further job losses, it could involve further plant shutdowns and therefore we cannot rule that out.

"I think our workers understand that and I meet with them very regularly to make sure that we do."

The firm is still in talks with the government over a £350 million European loan for new development.

Managers are also still waiting for the government to approve a £340 million European Investment Bank loan that was agreed earlier this year.

The company is currently introducing new Jaguar and Land Rover models to the international market, as a result of which it is hoped sales will start to recover over the coming months.