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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 Heritage Driving Experience throws you the keys to the museum

As automotive journalists, we get to drive a lot of really cool, high-performance vehicles. It really is the single best thing about this job. However, our access to vehicles is generally limited to the newest offerings on the market. That means, much like the general public, we don't really get access to vintage iron.
Jaguar is trying to rectify that issue for journalist and enthusiast alike, with a new program called the Heritage Driving Experience. It allows British enthusiasts to pop into the brand's Warwickshire testing site, drop anywhere from 100 to 300 pounds ($160 to $480) and go for a spin in some of the brand's most legendary offerings. That includes the more typical classics, like the Mark 2 saloon and the E-Type sports car, but you can also pay for access to stunners like the XK150, XKSS and the race-spec D-Type. In addition to the classics, most of the tests include time in their modern successors. So an hour with the Mark II can be split with time in an XFR-S, while the E-Type is complemented by its spiritual successor, the F-Type.
Most of the events are limited to 30 or 60-minute sessions, although the brand does offer a half-day and full-day event. The former, the Jaguar Le Mans Experience, includes time in the C-Type, D-Type, XKSS and F-Type R. The full-day Grace and Pace Pack, meanwhile, gives you access to nine vehicles, covering a huge gamut. That means time in the C-, D- and E-Type, XK150, Mark II, XKR-S GT and F-Type R, among others. Not surprisingly, prices aren't listed for the half- and full-day pack. Much like Jag's finest cars, if you have to ask, you probably can't afford them.

Jaguar C-X75 production run canceled

"We feel we could make the car work, but looking at the global austerity measures in place now, it seems the wrong time to launch an 800,000-pound to 1 million-pound supercar."
Those words are from Jaguar Global Brand Director Adrian Hallmark, and as true as they may be, it still stings a little bit. After all, we've been looking forward to the Jaguar C-X75 ever since word came from Jolly Olde that it was green-lit for a short production run.
Some of the cool bits and pieces the world will now be without: a powerful but relatively miserly 1.6-liter turbocharged and supercharged four-cylinder engine, two electric motors driving all four wheels and a carbon fiber chassis developed by Williams F1. Sigh.