Jaguar Sets Up Mission Control Center Over Chips Spurring Losses
- Owner’s deficit was wider than every analyst estimate
- Carmaker blames one supplier for much of shortage last quarter
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Jaguar Land Rover is working seven days a week trying to limit the damage from the chip shortage that dragged its owner into the red last quarter and is about to cost it even more.
The British luxury-car maker has set up a “full-time mission control center” to manage the issue, Chief Financial Officer Adrian Mardell said on a call Monday. Parent Tata Motors Ltd. posted a net loss of 44.5 billion rupees ($598 million) for the quarter ended in June, a bigger deficit than any analyst estimate compiled by Bloomberg.