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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 Land Rover details JustDrive connectivity suite

JustDrive will allegedly deliver on the long-promised idea of natural communication between driver and car.
Jaguar Land Rover's all-new InControl system is set to get a big bump as the British company will add a new service called JustDrive, which expands on the smartphone-focused infotainment system by adding a singular voice controller for a wide array of the system's currently available apps.

Jaguar Land Rover to upgrade Castle Bromwich plant to build EVs

LONDON — Jaguar Land Rover is making a multi-million pound investment to build electric vehicles in Britain, in a major boost for the UK government and a sector hit by the slump in diesel sales and Brexit uncertainty. Britain's biggest car company, which built 30 percent of the UK's 1.5 million cars last year, will make a range of electrified vehicles at its Castle Bromwich plant in central England, beginning with its luxury saloon, the XJ. "The future of mobility is electric and, as a visionary British company, we are committed to making our next generation of zero-emission vehicles in the UK," Chief Executive Ralf Speth said on Friday. The announcement gives a boost to Britain's automotive sector hit this year by Honda and Ford's plans to close factories. Jaguar Land Rover (JLR) has highlighted the dangers of a no-deal Brexit and the need to maintain frictionless trade with the European Union, echoing warnings from the industry that just-in-time production could be hit by customs delays and additional bureaucracy. But it has signed a deal with workers at the Castle Bromwich factory to go from a five-day to a four-day working week with the same amount of hours which should allow the plant to operate more efficiently. Three of JLR's four European car plants are in Britain, giving it limited capacity elsewhere on the continent. The other, in Slovakia, only opened last year and is still being ramped up with other models allocated there. "We are making this investment because the ongoing Brexit uncertainty has left us with no choice, we had to act, for our employees and our business," JLR said. "We are committed to the UK as our home and will fight to stay here but we need the right deal." Both candidates to replace Prime Minister Theresa May, Boris Johnson and Jeremy Hunt, have both said they are prepared to take Britain out of the EU on Oct. 31 without a deal, although it is not their preferred option. Brexiteers have argued that the EUÂ’s biggest economy Germany, which exports hundreds of thousands of cars to Britain ever year, would do its utmost to protect that trade Friday's announcement comes after a turbulent few months for Jaguar which announced around 4,500 job cuts earlier in January and posted a 3.66 billion pound ($4.5 billion) loss in 2018/19.