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Strong JLR sales in China boost Tata Motors' quarterly profit

BENGALURU, India — Tata Motors Ltd on Friday posted a 67.2% surge in quarterly profit. Sales at its luxury car unit, Jaguar Land Rover (JLR), improved in key market China as the country led a recovery in the global automobile industry from the pandemic. The Indian carmaker had logged losses for three straight quarters as the COVID-19 pandemic dented business in several of its key markets even as it was already dealing with uncertainties around Brexit, weak demand and rising costs. The Brexit trade deal agreed upon in December has avoided the risk of tariffs on automotive parts and finished vehicles, Tata Motors said, adding that JLR remains encouraged by the Brexit trade deal. JLR sales in China jumped 20.2% on-quarter and were 19.1% higher from the year-ago period. Retail sales at the unit, which accounts for most of the company's revenue, were up 13.1% from a quarter ago, but still 9% lower than pre-pandemic levels. The company said it had saved 400 million pounds ($548.96 million) during the December quarter at JLR under Project Charge, taking the total savings to 2.2 billion pounds so far. Tata Motors has set a full-year target of saving 2.5 billion pounds. Consolidated net profit came in at 29.06 billion rupees ($398.52 million) for the third quarter, compared with a profit of 17.38 billion rupees a year earlier. It had reported a loss of 3.14 billion rupees in the previous quarter. The festive season in mid-November, during which Indians typically make big-ticket purchases, also helped overall sales. "Due to a strong festive season and a clear preference for personal mobility, the PV business posted its highest sales in last 33 quarters," Tata Motors Chief Executive Officer and Managing Director Guenter Butschek said. Total revenue from operations rose 5.5% to 756.54 billion rupees.

Jaguar Land Rover data leak reveals employee records, upcoming layoffs

A massive data leak has revealed the personnel files of hundreds of employees at Jaguar Land Rover's factory in Solihull, England. The documents reveal details such as sick days used, disciplinary issues and — most notably — red lines indicating potential firings in the weeks or months ahead. In total, the personal records of more than 600 workers were released. JLR is scrambling to contain the crisis. The breach was first reported by the Huffington Post UK, with the automaker initially claiming the story was "fake news." That publicity gaff certainly didn't help matters, especially for employees staring at their name with a red line slashed across it. Last month, the British automaker had said it would be eliminating roughly 1,000 employees at factories in the U.K. The Solihull plant, which produces models like the Range Rover, Range Rover Sport, Jaguar F-Pace and Jaguar XE, was among those mentioned in the statement. JLR, which is owned by the Indian conglomerate Tata Motors, is facing a steep drop in sales, particularly in its home market. The main culprits include a huge slump in sales of diesel-powered vehicles - a vital part of JLR's business in the U.K. and throughout Europe - along with fears about how the upcoming "Brexit" will affect business operations. In the HuffPost UK story, one worker called the situation "disgusting" and "embarrassing," adding that people at the factory now know whether they, or their colleagues, are soon due to lose their job. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Getty Hirings/Firings/Layoffs Plants/Manufacturing Jaguar Land Rover economy data

Jaguar Land Rover opens new $1.6 billion factory in Slovakia

BRATISLAVA, Slovakia — Jaguar Land Rover is opening a new, $1.6 billion plant in Slovakia, the luxury car maker's first in continental Europe. The U.K.-based company, owned by India's Tata Motors, built the plant near Nitra, about 65 miles east of Bratislava, to initially produce 150,000 cars a year. The Slovak government is giving the carmaker investment subsidies of up to 130 million euros ($148 million). Slovakia is a regional car-making powerhouse. Germany's Volkswagen AG, France's PSA Peugeot Citroen and South Korea's Kia Motors all have a major plant in this Central European country of 5.4 million people. The company said it will shift all production of its Discovery model from Birmingham, England, to Slovakia amid falling diesel sales, vehicle taxes and uncertainty about Britain's Brexit departure from the European Union.Related Video: