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Strong JLR sales in China boost Tata Motors' quarterly profit

BENGALURU, India — Tata Motors Ltd on Friday posted a 67.2% surge in quarterly profit. Sales at its luxury car unit, Jaguar Land Rover (JLR), improved in key market China as the country led a recovery in the global automobile industry from the pandemic. The Indian carmaker had logged losses for three straight quarters as the COVID-19 pandemic dented business in several of its key markets even as it was already dealing with uncertainties around Brexit, weak demand and rising costs. The Brexit trade deal agreed upon in December has avoided the risk of tariffs on automotive parts and finished vehicles, Tata Motors said, adding that JLR remains encouraged by the Brexit trade deal. JLR sales in China jumped 20.2% on-quarter and were 19.1% higher from the year-ago period. Retail sales at the unit, which accounts for most of the company's revenue, were up 13.1% from a quarter ago, but still 9% lower than pre-pandemic levels. The company said it had saved 400 million pounds ($548.96 million) during the December quarter at JLR under Project Charge, taking the total savings to 2.2 billion pounds so far. Tata Motors has set a full-year target of saving 2.5 billion pounds. Consolidated net profit came in at 29.06 billion rupees ($398.52 million) for the third quarter, compared with a profit of 17.38 billion rupees a year earlier. It had reported a loss of 3.14 billion rupees in the previous quarter. The festive season in mid-November, during which Indians typically make big-ticket purchases, also helped overall sales. "Due to a strong festive season and a clear preference for personal mobility, the PV business posted its highest sales in last 33 quarters," Tata Motors Chief Executive Officer and Managing Director Guenter Butschek said. Total revenue from operations rose 5.5% to 756.54 billion rupees.

Jaguar Land Rover output at two UK plants hit by chip shortage

LONDON — Output at two of Jaguar Land Rover's (JLR) British car factories will be temporarily halted from Monday, due to COVID-19 supply chain disruption, including a lack of semi-conductors, the firm said on Thursday. "We have adjusted production schedules for certain vehicles which means that our Castle Bromwich and Halewood manufacturing plants will be operating a limited period of non-production from Monday 26th April," the Tata Motors-owned company said. The COVID-19 pandemic has driven up demand for semiconductor chips for use in electronics like computers, as people worked from home, and suppliers are struggling to adjust, hitting output at many automakers. Trade flows have also been affected. On Wednesday, carmaker Stellantis said it would replace digital speedometers with more old-fashioned analogue ones in one of its Peugeot models, as the fallout continues. Renault's finance chief said on Thursday that car production fell by tens of thousands of vehicles in the first quarter as a result of the shortage. Output at JLR's third British car factory in Solihull, central England, will continue, the company said. "We are working closely with affected suppliers to resolve the issues and minimize the impact on customer orders wherever possible."  

Jaguar will sell 10 fully restored Series 1 E-Types

The Jaguar Land Rover "Reborn" program is expanding its offerings yet again. The newest offering is the first from the Jaguar side of the company, and naturally the first car is a Series 1 E-Type. Jaguar Classic will restore 10 of the first-generation E-Types, and the cars will be sold directly to consumers from the company. The very first of the cars is the 1965 model you see above, which will make its public debut next week at the Techno-Classica Essen show in Germany. It's a 4.2-liter model finished in "Opalescent Gunmetal Grey." According to Jaguar, it was originally sent to California where it racked up 78,000 miles, and then was put into storage in 1983. Jaguar then acquired the car, and the Jaguar Classic department proceeded to restore it to factory specifications. Jaguar fixed and retained as many original parts as possible, and used replacement Jaguar Classic parts as needed. The car is fully numbers-matching with the original engine and transmission. If you're interested in purchasing this E-Type, or one of the other nine, you'd better have a hefty pocketbook. A standard restored car done to factory specs will start at about $355,000 at current exchange rates. If you want to spend more, Jaguar offers a few extra cost options such as an upgraded cooling system based on the one found in the Lightweight E-Type, a fully synchromesh transmission for early models without it, and upgraded front brake calipers from the later Series 2 E-Type. Related Video: