الأحد , يونيو 14 2020

Weak Jaguar sales hit Tata profit

Land Rover

Tata Motors has seen first-quarter profits almost halve due to weak sales of Jaguar Land Rover in China.

Net profits between April and June were 27.7bn rupees ($433m; £280m), compared with 54bn a year earlier. Revenue fell by about 6% to 610.2bn rupees.

The slump was largely due to the slowdown in the Chinese car market, where Jaguar Land Rover sales fell by about a third during the quarter.

Demand for Tata’s own brand cars in India was also weak.

Overall, revenues at Jaguar Land Rover fell by £351m to £5bn.

“The financial performance in the quarter was lower than the strong corresponding quarter last year due to softer sales in China partially offset by strong performance in the UK, Europe and North America,” the company said in a statement.

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