Jaguar Land Rover sales in U.S., Europe weigh on Tata profit

on Feb6

Attendees look inside a Jaguar Land Rover Automotive Plc 2018 Range Rover SVAutobiography sports utility vehicle (SUV) during a reveal event in Los Angeles, California, U.S., on Tuesday, Nov. 28, 2017. During the Los Angeles Auto Show, Land Rover will show several new editions from its Special Vehicle Operations factory, including the Range Rover SVAutobiography and the 2018 Range Rover Sport SVR and plug-in hybrid. Photographer: Patrick T. Fallon/Bloomberg Photo credit: Bloomberg

Jaguar Land Rover’s lower sales in the U.S. and Europe pulled down profit at parent Tata Motors.

Net income was 12 billion rupees ($187 million) in the quarter through December, Tata Motors said in a statement Monday. Profit before tax at its Jaguar Land Rover unit fell 25 percent to $271 million.

Deliveries at Jaguar Land Rover grew at a slower 3.5 percent pace in the quarter because of weak demand in North America and Europe. While its newly introduced Velar sport utility vehicle attracted buyers, deliveries of the Evoque and Range Rover Sport declined. Still, unit  sales chief Andy Goss said last month that deliveries this year will jump with Jaguar’s first compact crossover, E-Pace, and its first electric vehicle as well as full year for the Velar and Discovery.

“This is a milestone year for Jaguar Land Rover as we prepare to launch our first ever electric car, the Jaguar I-Pace, and Range Rover plug-in hybrids,” Jaguar Land Rover CEO Ralf Speth said in the statement. “We expect a stronger all-around performance in the fourth quarter driven by new models, seasonality and improved profitability.”

Jaguar Land Rover’s deliveries declined 2.4 percent in North America and 3.4 percent in Europe. Sales in its biggest market, China, expanded at a slower 15 percent pace.

Jaguar Land Rover last month said it will scale back production temporarily at Halewood in northern England during the April-June quarter as concerns about Brexit terms and the future of combustion engines hurt consumer confidence and sales. It did not specify the size and planned time frame of the cutback.

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