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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

Take a trip down Jaguar's memory lane with Xcar

For decades, Jaguar has been a company of two minds. On one hand, there are its luxurious, British saloon cars. They might be quick, even sporty, but when it comes down to it, they usually put a focus on comfort and accommodations above all. On the other hand, Jag has its sports cars to really get its buyers' blood pumping. Think about it: the XJ might look pretty sweet, but you know deep down that you would rather take the F-Type for a spirited drive, reveling in its snorty exhaust note. In its latest video, Xcar Films takes us on a very enjoyable history lesson covering some of the Brit brand's most exciting models ever.
Xcar hits all of the highlights, starting with the often-overlooked C-Type from early '50s with its somewhat bulbous shape. Things then progress to the drop-dead gorgeous D-Type. The one in this video is actually the first ever made and therefore worth a fortune. Because of that, the host isn't really able to get too aggressive, but it's fantastic to get an idea of what it's like to experience being behind the wheel of this icon. Finally, it ends with a Series 1 E-Type. This was when the classic model was still something of a sports car; instead of the grand tourer that the E-Type became in its later days.
All three of these cars are legends in their own right, and maybe one day the F-Type could be too. Scroll down for a history lesson on some of Jaguar's best sports cars.

London skyscraper caught melting cars

A new skyscraper under construction in London is apparently to blame for some mysteriously melting car parts on the city's surrounding streets. The 37-story building at 20 Fenchurch Street, nicknamed the "Walkie Talkie" for how it looks, features a convex side of glass windows that apparently concentrates the sun's rays like a kid with a magnifying glass. Instead of smiting ants, however, the building was caught focusing its sun-sourced laser death beam on an innocent Jaguar XJ parked on Eastcheap street. The intense heat managed to melt a sideview mirror, plastic C-pillar cover and Jaguar emblem (scroll down for an image of the damage).
Fortunately, the construction company, Land Securities, had some scruples and reportedly left a note on the car for its owner reading "Your car's buckled, could you give us a call?" They've also since apologized and agreed to pay for the £946 done - about $1,500 - in damages by their blazing hot building. A joint statement with the Canary Wharf district in which the building's located was also released. In it, the developer acknowledges concerns about the reflected light and says it's looking into the matter. The city has also decided to close a few parking bays that could be in the building's line of fire, so to speak, until a solution can be engineered. Since news of the melting Jag broke, other vehicle owners have also come forward claiming the building, re-nicknamed the "Walkie Scorchie," has damaged their cars, as well.
This isn't the first shiny-new-building-attacks-cars story we've heard - architect Frank Gehry's Walt Disney Concert Hall in Los Angeles was built amidst concern that its polished ribbons of stainless steel were blinding motorists and causing accidents, along with raising the temperatures of nearby buildings with its reflected light. The building's surfaces were later given a matte polish.