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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

Jaguar CEO says people just don't want EVs right now

"Customers are not impressed with it currently." These are the words of one Ralf Speth, CEO of Jaguar Land Rover, spoke at the Automotive News Europe Congress in Birmingham, England. The "it" Speth is referring to is battery technology, which he characterized as "too heavy, too expensive," and with power density that's "too low." That all could go some way towards explaining why the British automaker has yet to bring an electric vehicle to market, why it killed the C-X75 hybrid-turbine supercar project, and why it only recently started offering hybrid versions of its Range Rover models (and has yet to offer them in the United States). That doesn't mean the company won't pursue electric propulsion in the future, though. According to Automotive News Europe, Speth forecasts that "the next generation of batteries will be higher density, lower weight and the cost will come down." What he didn't say, exactly, is when he expects that next generation of battery tech to come around – or when JLR will start to more closely embrace electric propulsion. In the meantime, Jaguar Land Rover will continue investing in research and development. Since Tata acquired the brands from Ford seven years ago, JLR has quadrupled its R&D budget and doubled the number of engineers on staff. 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."