Tata Motors Ltd on Wednesday communicated a gloomy update for third quarter Jaguar Land Rover (JLR) revenue, which are continuing to be constrained by semiconductor shortages.
At the end of January, Jaguar Land Rover has anticipated registering unaudited outcomes for the three months concluding 31 December 2021. The initially evaluated cash flow for the quarter is around £150 million positive. Nonetheless, the chip deficiency stayed dynamic and challenging to foretell, however, it is expected to supply to continue to improve in Q4 of the fiscal year ending 31 March 2022.
Retail sales for the quarter concluding 31 December 2021 stood 80,126 vehicles, down 13.6% (12.6k units) from the primary quarter ending 30 September 2021 and 37.6% (48.3k units) from the quarter a year ago ending 31 December 2020. Retails was descending across all regions reached to the preceding quarter, including China (-6.9%), Europe (-6.8%), North America (-11.8%), UK (-24.3%), and Overseas (-25.4%).
“Underlying demand for JLR products remains strong and the Company has proactively managed semiconductor supplies to maximise production of higher-margin products,” Tata Motors said in a filing.
“Looking ahead, the chip shortage remains dynamic and difficult to forecast, however, we expect supply to continue to improve in Q4 of the fiscal year ending 31 March 2022,” Tata Motors said. Tata Motors Limited earlier on Jan 1, 2022, notified its sales in the domestic & international market, for Q3 FY22, which stood at 1,99,633 vehicles, compared to 1,58,218 units during Q3 FY21.
The New Range Rover is the embodiment of Jaguar Land Rover’s vision for Modern Luxury by Design. “We are delighted that positive feedback at launch has led to a strong order intake for this first all-new modern luxury model. Furthermore, the Land Rover Defender continues to contribute to a record order bank next to our all-electric Jaguar I-PACE. Semi-conductor supply challenges continue within the industry but our wholesale volumes are improving. We look forward to completing delivery to global customers as supply improves in 2022,” Lennard Hoornik, JLR chief commercial officer said