Jaguar Land Rover slumps to £3.6bn loss amid Chinese sales slide

21 Mai, 2019, 04:42 | Auteur: Auguste Feret
  • Source Getty

Brexit-related disruption and a slowdown in sales in China, once Jaguar Land Rover's (JLR) fastest-growing market, have hammered Tata's finances.

He is being replaced by his former deputy Adrian Mundell, 57, who was appointed Jaguar Land Rover's cost-cutter-in-chief as the company's transformation director. The automaker's loss came at ₹26,993 crore for the three months ended 31 December.

China's recent economic slowdown - caused in part by its trade war with the U.S. - has hit JLR hard, and was cited as one of the main reasons for the announcement of 4,800 job losses earlier this year.

Tata, India's biggest automaker by revenue, said tighter control of expenses and a turnaround at JLR helped boring the impact of an economic slowdown at home as it posted its first quarterly profit for the fiscal year that ended on March 31.

Total income stood at Rs 3,04,903.71 crore for the last fiscal as against Rs 2,96,298.23 crore in 2017-18, the filing said.

Eagles' Chris Long announces retirement after 11 National Football League seasons
The former University of Virginia star entered the league in 2008, as the No. 2 overall pick of the NFL Draft by the St. As far as Chris Long is concerned, jealousy is the only reason anyone could dislike the future Hall of Famer.

Damian Lillard Is Reportedly Playing Through Separated Ribs Against The Warriors
Both teams switched up their lineups for Game 3, with Portland's Meyers Leonard making his first start of the playoffs at center. Draymond drove repeatedly, scoring easy buckets at the rim, drawing fouls, and knocking down his free-throws (8-9 in Game 3 FT).

Tesla shares, bonds take a hit as investors fear 'code red'
Tesla lost $702 million in the first quarter and warned that profit would be delayed until the latter half of the year. Tesla's stock managed a small rally by market's close, but shares were still down 3.8 percent to $203.03.

Revenue from wholly owned subsidiary Jaguar Land Rover Automotive PLC fell 5 per cent to Rs 65,146 billion.

The vehicle manufacturer, which has already announced thousands of job cuts in the United Kingdom in the first months of 2019, made the loss after a £400m profit in 2018. The unit brings in most of Tata's revenue.

Balaji said Tata had no plans to sell JLR.

Tata Motors' domestic business posted a standalone net profit of Rs 106.19 crore for the quarter, compared to a net loss of Rs 499.94 crore a year ago. We have continued to step up our pace of innovation, improved our market shares as well as our profitability.



Buttigieg takes to Fox News and slams Fox News
Harris turned down offers to appear on the network, too, according to multiple news reports. A spokeswoman for de Blasio did not immediately return a message requesting comment.

When exit polls convey same message, results in consonance, writes Arun Jaitley
Exit polls by News 18-Ipsos has projected six to seven seats for the BJP, and the Congress may gain by winning one seat. It is a loss of two seats for Congress, which had won nine in 2014 while no change is expected in the strength of JD-S.

Eurovision 2019: Bilal Hassani 14e, les Pays-Bas grand vainqueur
De ce côté là, cela semble très réussi! J'ai mis toutes mes tripes sur scène . Je veux défendre tout l'album, je suis super fier de ce projet, je l'adore.

Beijing denounces US warship sail-by in South China Sea
Last month, China's navy chief said freedom of navigation should not be used to infringe upon the rights of other nations.

Emilia Clarke Says Goodbye To Game Of Thrones In Emotional Post
Weiss have proven themselves to be woefully impotent writers when they have no source material (i.e. the books ) to fall back on". The entire sequence of events all the way till the end doesn't show Dany's face whatsoever.

Deutsche Bank Flagged Trump and Kushner for Potential Money Laundering
The relationship between Trump and Deutsche Bank has been scrutinized in recent weeks . No, I built a great business and don't need banks, but if I did they would be there".

Measles case confirmed in St. Clair County, state count at 44
The number of measles cases in the country increased more than eight times - from 2,409 to 20,758 cases - between 2017 and 2018. Measles is one of the most contagious diseases and spreads through the air when an infected person coughs or sneezes.

Madonna Attempts to Broker Israel-Palestine Peace at Eurovision 2019
And the pitching may well have been deliberate, but perhaps a little heavily reliant on auto-tune correction later on. It's great that the show came to Tel Aviv", said Alan Liferow, 58, an Israeli accountant from Ein Sarid.

New Zealanders now fast-tracked into UK
The British High Commission on Monday confirmed the self-use terminals are operational for visitors with a chipped passport. That is why airports work closely with Border Force to ensure the border is welcoming, while maintaining the UK's security.

Qatari Broadcaster Al Jazeera Suspends Journalists Over Holocaust Report
Spokesman for Israel's Ministry of Foreign Affairs Emmanuel Nahshon described the video as "the worst kind of pernicious evil". He added: "We'll keep fighting anti-Semitism on Arab media, including on [Al Jazeera Arabic]-an inciting propaganda machine".