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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

10 best new car deals in late September 2021

New car sales were drastically affected in 2020 due to the ongoing coronavirus pandemic, but things started to show signs of recovery toward the end of the year before really coming on strong in the early months of 2021. Now there's an ongoing shortage of microchips causing a great deal of pricing fluctuation and a limited supply of certain vehicles. That doesn't mean there aren't still great deals on new cars, though. Using data provided by TrueCar, we’ve compiled a list of some of the best automotive deals for September 2021. WeÂ’ve noted the original MSRP, the average transaction price, and the total savings in both dollars and as a percentage of the original sticker price. Basically, weÂ’ve done all the hard work for you! So now, all you need to do is compare deals, go on a few test drives, and maybe drive away in a great car (and an even better bargain).

Brabus takes on Range Rover Sport with Startech widebody kit

Of all the tuners this side of AMG, none are as close to Mercedes-Benz as Brabus. After all, when Daimler needed a tuner to spruce up the Smart car, it was Brabus that it turned to. But Brabus tunes vehicles other than Mercedes - it just uses, let's call it, a pen name. It brands them Startech, like the widebody kit it's developed for the new Range Rover Sport and will present at the Geneva Motor Show next week.
The modifications center around the carbon fiber body panels Brabus (excuse us, Startech) has developed for the British sport-ute that give it over two inches of added width. The wider fender flares encompass 23-inch wheels that are forged, ceramic-coated, skinned with low-profile rubber and fitted to a lowered suspension. The front and rear bumpers have been redone in plastic and can be fitted with or without the wider fenders, and there's a three-piece roof spoiler at the back.
Startech is also offering an upgrade for the 3.0-liter twin-turbo-diesel V6 that squeezes out an extra 31 horsepower and 59 pound-feet of torque for a total of 323 hp and 501 lb-ft, dropping the 0-62 time from 7.2 seconds to 6.9. The German tuner also has a wide array of interior modifications on offer, details of which you can read about in the press release below and scope out in the high-resolution image gallery above.