Tata Motors posts Q2 loss of INR 1049 Crore
Tata Motors has posted a loss of INR 1049 crore for the July-September quarter due to weak Jaguar Land Rover sales. Jaguar’s sales were hurt due to tariff changes in China and escalating trade tensions between China and the US. Tata Motors plans to cut costs and improve cash flows at the luxury car unit by INR 23,720 crore over 18 months.
JLR, which contributes to the bulk of the earnings at Tata Motors, was hammered by fluctuating political events globally, especially the ongoing trade war between the US and China. Sales in India stayed on the growth path, thanks to demand for passenger as well as commercial vehicles. (Source – Livemint)
Tata Motors posts Q2 loss of INR 1049 Crore < Business News