JLR posts loss amid weak demand for some models
Tata Motors’s Jaguar Land Rover reported a loss of £210 million ($276 million) in the three months ended 30 June
Mumbai: Jaguar Land Rover Plc (JLR) posted a quarterly loss on amid a decline in deliveries of its sport utility vehicles (SUVs) F-Pace and Discovery Sport from a year earlier. The luxury unit of Tata Motors Ltd reported a loss of £210 million ($276 million) in the three months ended 30 June, the automaker said in a statement Tuesday. The parent also posted a loss of ₹ 1,900 crore.
“With regards to JLR, we faced multiple challenges including temporary issues like China duty impacts as well as the market issues like diesel concerns in U.K. And Europe,” Tata Motors chairman Natarajan Chandrasekaran said in the statement.
Sales of Jaguar F-Pace SUV fell 26% in the quarter, while Discovery Sport declined 14%. Deliveries in Europe, one of its biggest markets, slipped 7.3% in the period.
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