According to the Sunday Times, senior industry sources have claimed that owner Rajan Tata is likely to name a top Ford executive in Europe as chief executive of the Jaguar-Land Rover group.

Geoff Polities, an Australian car-industry veteran, currently holds the chief executive role.

It is believed that Tata plans to make few immediate changes to the way the British brands operate and will keep UK operations and current model plans intact.

Meanwhile, Tata is set to launch what its claims is the world's cheapest new car this week.

The 'people's car” will retail at around 100,000 rupees, or £1,225.

The four-seater hatchback has a steel chassis and plastic body panels, and is powered by a 660cc two-cylinder engine.