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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

Autoblog Podcast #339

Farewell, Zach Bowman; Pikes Peak 2013; Datsun; 2014 Ram lineup
Episode #339 of the Autoblog Podcast is here, and it's the last rodeo for Zach Bowman before he departs for other pastures. The crew this week consists of Dan Roth, Zach Bowman and Jeff Ross, who talk about the astounding records set at this year's Pike's Peak hill climb, the return of the Datsun brand name and the recently-announced 2014 Ram truck lineup. Of course, we start with the garage and end with your questions and comments. For those of you who hung with us live on our UStream channel, thanks for taking the time. You can follow along after the jump with our Q&A. Thanks for listening!
Autoblog Podcast #339:

Stolen Jaguar Recovered Forty-Six Years Later

Forty-six years ago Ivan Schneider, successful Manhattan lawyer, bought himself the Jaguar convertible that would feature in a most unusual tale of unrequited love. It was the first (and "prettiest") of many luxury cars he would own, his companion on fast drives - and the only one that was ever stolen. Forty-six years later, a U.S. Customs and Border Patrol analyst running a routine export check through a stolen car database came up with a hit. The 1967 Jaguar XKE was hot. The problem: It was already on a cargo ship, in a container, headed for Europe, two days out of the Port of Long Beach on the Pacific Ocean. Investigators with the California Highway Patrol and nonprofit National Insurance Crime Bureau got to work. New York police still had the March 1968 incident report. CHP investigator Michael Maleta spoke with Schneider in Florida, where he now lives. Schneider thought it was a prank. "After we convinced him, he was excited," said Maleta. After all, Schneider told The Associated Press on Wednesday, he would think of the car every time he bought a new one. And, he said, he is a car guy who has owned quite a few exotics. For the months he owned it, he was in love. "I've always said that was the prettiest," Schneider, now 82, said. Tracing the car's history, Maleta learned the Southern California man exporting it to the Netherlands had bought it about three months ago from an owner in the San Joaquin Valley, who himself had it 40 years. What happened between its disappearance from the concrete canyons of the Upper East Side and its California sojourn - Maleta hopes his investigation will answer that. After its out-and-back sea journey to the Netherlands, the car is back in Southern California, more than two months after the law finally found it. It's rusty and scratched, but still worth about $24,000 - and far more if restored, as Schneider plans to do. He just won't push it too hard. It's old, so is he, and though beautiful it is known for trouble under the hood. "I'll use it as a Sunday car," Schneider said. "They were never reliable." At least, one day soon, it will be back home. Related Gallery 2014 Jaguar XJR Test Drive Weird Car News Jaguar stolen car