Pursuits
Tata Motors Posts Surprise Loss on China Slump, Blast Costs
- Jaguar Land Rover quarterly retail sales plunged 32% in China
- Deliveries of Jaguar Land Rover increased 34% in Europe
This article is for subscribers only.
A slump in China sales at Jaguar Land Rover amid a market slowdown and a one-time expense contributed to its Indian parent Tata Motors Ltd. posting an unexpected loss.
The net loss was 4.3 billion rupees ($65 million) in the quarter through September, compared with a 32.9 billion rupees profit a year earlier, the Mumbai-based company said Friday. Jaguar Land Rover suffered a 92 million pound ($139 million) loss. Tata Motors took a one-time charge of 24.93 billion rupees on damages to the vehicles of its luxury unit from a blast at Tianjin port where they were stored.