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Jaguar Land Rover parent Tata posts a loss over coronavirus

BENGALURU — India's Tata Motors posted a wider loss for the September quarter on Tuesday as the COVID-19 pandemic sapped demand in several of its key markets. The global health crisis has hammered sales for automakers worldwide and compounded problems for Tata Motors, which was trying to improve Jaguar Land Rover (JLR) sales amid weak demand and uncertainty related to Brexit. Tata Motors reported a consolidated net loss of 3.14 billion rupees ($42.47 million) for the second quarter ended Sept. 30, compared with a loss of 2.17 billion rupees a year earlier. Retail unit sales at luxury car unit JLR, which rakes in most of the company's revenue, was down nearly 12% for the reported quarter. Tata Motors, however, said it expects JLR sales to gradually improve. "Despite concerns around the risk of a second wave of (COVID-19) infections ... we expect a gradual recovery of demand and supply in the coming months," the carmaker said in an exchange filing. Total revenue from operations fell 18.2% to 535.3 billion rupees. Tata Motors said it was committed to achieving near-zero net automotive debt in the coming years. Shares of Tata Motors ended 1.46% higher on Tuesday while the broader Mumbai market settled 1.03% higher.

Jaguar Land Rover UK factories could shut down in two weeks due to coronavirus

COVENTRY, England — Jaguar Land Rover has enough parts from China to maintain its British production for the next two weeks but not beyond that at the moment, Chief Executive Ralf Speth said on Tuesday. Britain's biggest carmaker, which operate three car factories in its home market, joined major global companies such as Apple in warning of the impact of the virus on supply chains. The rapidly spreading virus has killed nearly 1,900 in China and stricken some 72,000 people, confining millions to their homes, disrupting supply chains and delaying reopening of factories after the extended Lunar New Year holiday break. "We are safe for this week and we are safe for next week and in the third week we have... parts missing," said Speth when asking about the potential impact on British production. He said the firm's Chinese factory would open next week and was "safe for the very first week." Sales were not currently happening in China and it was unclear when they would return, he added. The boss of Tata Motors, JLR's parent company, speaking at the same event, said the company does not have sufficient visibility regarding parts suppliers from China. "We are safe for the month of February and for a good part of March," said Guenter Butschek. "Are we fully covered at this point of time for the full month of March? Unfortunately...not." Related Video:

Is Jaguar's 3 Series-fighter the brand's last chance?

The upcoming line of compact 3 Series-fighters from Jaguar, often referred to as the Jaguar XS, could consist of a sedan, wagon and possibly a coupe and GT model (think BMW 5 Series GT). The car's all-aluminum architecture also will provide the basis for two new sports utility vehicles. Just how important is the much-touted "baby Jag" project to parent company Jaguar Land Rover? A JLR executive reportedly says the brand's survival is directly linked to the success of the XS, codenamed X760, Autocar reports.
The brand's survival is directly linked to the success of the XS.
"If the X760 fails, it will probably be the end for the [Jaguar] brand," the executive says. But Adrian Hallmark, Jaguar's global brand director, claims Jaguar will "build the most advanced, most efficient, most refined car in that [compact luxury sedan] segment. Not almost as good as, but better than the best in the world."