- Friday, April 19, 2024
By: Sarwar Alam
Losses at Jaguar Land Rover dragged Indian carmaker Tata Motors into the red for the three months to June amid declining demand for its luxury cars and higher raw material costs, the company said on Tuesday (31). Tata Motors recorded a consolidated net loss of 19.02 billion rupees ($277 million) for the quarter against a 31.82 billion rupees profit a year earlier, the company said. Jaguar Land Rover posted a quarterly loss of £210 ($276 million) owing to declining demand for its F-Pace and Discovery Sport sports utility vehicles, the company said. “With regards to JLR, we faced multiple challenges…
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