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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

Lister introduces 666 hp, 208 mph limited edition Thunder

Lister is one of the most storied nameplates when it comes to Jaguar-based racing cars, with tons of Le Mans heritage on its shoulders. The company says it's Britain's oldest surviving racing car company. As well as racing cars, Lister has produced several road-going specials, such as the widened XJ-S derivative called Le Mans and the Storm, whose 7-liter V12-engine was not only based on the XJR-9 racing car, but also the biggest V12 engine fitted to a production car since WWII. Now, in addition to continuation specials like the reborn Knobbly, there is a new Lister on the market — boldly called the Thunder. The Thunder is based on the F-Type, but its supercharged 5-liter V8 has been re-engineered to reach 666 horsepower. It will reach 62 mph in just 3.2 seconds, 100 mph in 6.8 seconds and go all the way to 208 mph. To compare a production F-Type SVR to the Thunder, the Jaguar-badged car has 99 less horsepower and takes half a second longer to hit 62 mph. There will only be 99 units built, and they are priced at almost $200,000 in the UK — we reached out to Lister for a confirmation whether the cars will be made available to U.S. buyers. But they are selling out soon, as Lister today announced that in the 24 hours since the unveiling of the Thunder, 22 customers already put in an order, worth in excess of $4.37 million. But the Thunder will be much more than a limited edition plaque in the dashboard (and that 99 extra horsepower); the paintwork and the interior will be bespoke to the specially built car. The modifications to turn an F-Type into a Lister Thunder will be carried out at Lister's historic facility in Cambridge, UK. Related Video: Featured Gallery Lister Thunder Aftermarket Jaguar Luxury Performance lister

CMC to produce limited run of Callum's Jaguar Mark 2 [w/video]

We were a more than a little jealous when designer Ian Callum revealed his Jaguar Mark 2 restomod that he commissioned from Classic Motor Cars. It turns out that we weren't the only ones that dug it - the reaction was so great that CMC got Callum's permission to create a limited run of them for customers. Although, with prices quoted between £350,000 and £375,000 ($572,000 - $613,000), we doubt Ian needs to worry about seeing a copy of his creation pass him too soon.
"Within hours we had received calls from people all over the globe asking if they could buy one," said Peter Neumark, Chairman of CMC in the latest announcement. The reaction came as a surprise to Callum, who said he designed the car entirely to his own specifications and actually wasn't sure if people would like it.
Among Callum's many changes are new bumpers, wider front fenders with functional louvers and less chrome trim. Under the hood is a 4.3-liter six-cylinder fitted with two SU carbs putting out around 260 horsepower and 280 pound-feet of torque. It should be a much better driver too, with a completely re-engineered independent rear suspension, adjustable dampers at all four corners, improved brakes and a new rack and pinion steering system designed by CMC with electric assist.