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Tata Motors posts quarterly loss and warns of inflationary costs

BENGALURU — Jaguar Land Rover (JLR) owner Tata Motors reported a quarterly loss on Monday that was bigger than expected and warned of rising inflationary costs. Automakers worldwide have been roiled by chip shortages, supply chain disruptions, COVID-19 restrictions and rising raw material prices after a short-lived recovery towards the end of 2020. "Demand remains strong despite near term concerns ... the semiconductor supply situation is improving gradually whilst inflation worries persist," Tata Motors said in an exchange filing. The company expects chip shortages at JLR to continue through 2022 as suppliers gradually ramp up production, and is also engaging directly with chip manufacturers to secure supply longer-term supplies for the Range Rover maker, it said. Tata Motors' consolidated net loss came in at 15.16 billion rupees ($203.23 million) for the quarter ended Dec. 31, compared to a profit of 29.06 billion rupees a year earlier, when an easing of pandemic-related restrictions led to a pick-up in sales. However, the recovery was short-lived as acute semiconductor shortages and supply chain disruptions delayed production, and Tata Motors slipped back to losses. For the reported quarter, analysts had expected the Mumbai-based company to report a loss of 3.30 billion rupees, according to Refinitiv IBES data. Tata Motors' earnings before interest, taxes, depreciation, and amortization (EBITDA) margin, a key measure of profitability, was 10.2% for the quarter, above estimates of 9.3%. Total revenue from operations for the quarter fell 4.5% to 722.29 billion rupees, below estimates of 775.93 billion rupees. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Jaguar Land Rover

Jaguar F-Pace SVR to debut this week at New York Auto Show

It should come as no surprise that the folks back in England have been working on a hot new version of the Jaguar F-Pace. Today, just ahead of the 2018 New York International Auto Show, the British automaker confirmed that the Jaguar F-Pace SVR will debut this week. The new Jaguar I-Pace and Range Rover SV Coupe will make their North American debuts alongside the F-Pace. All we know about the F-Pace SVR is that it will be the fastest and most powerful version of Jaguar's best-selling product. We don't even have a teaser photo, as Jaguar Land Rover loves to play things close to the vest, so we're sharing some spy photos that we think might be the new model. Expect some version of JLR's 5.0-liter supercharged V8. We're hoping it's the 575 horsepower variant from the refreshed Range Rover Sport SVR. Expect 0-60 mph times in the low-4-second range and a top speed of at least 155 mph. The I-Pace and Range Rover SV Coupe both debuted earlier this month at the 2018 Geneva Motor Show. The I-Pace is an all-electric crossover with an estimated 240 miles of range. The SV Coupe is a limited-production two-door variant of the full-size Range Rover. It's meant to be a throwback to the original two-door Range Rover Classic. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Child cobalt miners: Automakers pledge ethical minerals sourcing for EVs

BERLIN - Leading carmakers including Volkswagen and Toyota pledged on Wednesday to uphold ethical and socially responsible standards in their purchases of minerals for an expected boom in electric vehicle production. Demand for minerals such as cobalt, graphite and lithium is forecast to soar in the coming years as governments crack down on vehicle pollution and carmakers step up their investments in electric models. To cover its plans for more than 80 new models by 2025, Volkswagen alone is looking for partners in China, Europe and North America to provide battery cells and related technology worth more than 50 billion euros ($59 billion). Talks with major cobalt producers, including Glencore, at VW's Wolfsburg headquarters last week ended without a deal. More than half of the world's cobalt comes from the Democratic Republic of Congo, a country racked by political instability and legal opacity, and where child labor is used in mines. On Wednesday, a group of 10 leading passenger-car and truck manufacturers announced an initiative to jointly identify and address ethical, environmental, human and labor rights issues in raw materials sourcing. The partnership dubbed "Drive Sustainability" consists of VW, Toyota Motor Europe, Ford, Daimler, BMW, Honda, Jaguar Land Rover, Volvo Cars and truckmakers Scania and Volvo. The alliance "will assess the risks posed by the top raw materials (such as mica, cobalt, rubber and leather) in the automotive sector," said Stefan Crets of the CSR Europe business network. "This will allow Drive Sustainability to identify the most impactful activities to pursue" to address issues within the supply chain.Reporting by Andreas Cremer.Related Video: Image Credit: Michael Robinson Chavez/The Washington Post via Getty Images Green BMW Ford Honda Jaguar Land Rover Mercedes-Benz Automakers Toyota Volkswagen Volvo Green Automakers Green Culture Electric Scania ethics mining