Jaguar Parent Tata Motors’ Loss Widens as Pandemic Hits Car Sales
- Tata Motors posts a second-quarter loss of 3.14 billion rupees
- JLR unit reports profit before tax of 65 million pounds
New Land Rover SUV’s are loaded for export at the Port of Southampton.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
Tata Motors Ltd., the Indian owner of British luxury carmaker Jaguar Land Rover, reported a wider loss on weak demand as Asia’s third-largest economy remained shut for months following the coronavirus outbreak.
Tata Motors posted a loss of 3.14 billion rupees ($42.6 million) in the three months ended Sept. 30, widening from a 2.2 billion-rupee loss in the same period a year earlier. JLR reported a 65 million-pound ($85 million) profit before tax during the quarter, Tata Motors said in a statement to stock exchanges Tuesday.