Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
News18 » Auto
1-min read

JLR Parent Tata Motors Posts Smaller-Than-Expected Loss as Demand in China Picks Up

Tata Motors' revenue loss due to a demand slump in the Indian automobile sector was partially reduced by Jaguar Land Rover's luxury car sales in China.

Updated:October 29, 2019, 9:55 AM IST
facebookTwitter Pocket whatsapp
JLR Parent Tata Motors Posts Smaller-Than-Expected Loss as Demand in China Picks Up
Image for Representation (Source: Reuters)

Jaguar Land Rover owner Tata Motors posted a smaller-than-expected loss in the second quarter as a pick up in sales of its luxury car in China helped it ride out weak vehicles sales in India, its home market. Improved sales for JLR is an indication of recovery for the iconic British brand which had been hit by a trend to move away from diesel cars towards cleaner fuels in markets such as China and Britain. Tata bought Jaguar and Land Rover in 2008 for $2.3 billion (£1.8 billion). The company launched a revival plan last year to revive JLR business. Revenue from the unit rose 8 per cent to £6 billion during the quarter, the company said.

However, overall revenue for Tata Motors fell 9 per cent to 654.32 billion rupees as India's auto industry struggles from a slump in demand for vehicles due to a credit squeeze in its shadow-banking sector and higher insurance costs. Net loss for the three months ended September 30 narrowed to 2.17 billion rupees (£23.86 million) from 10.49 billion rupees a year ago. Analysts on average expected the company to lose 15.5 billion rupees, according to Refinitiv data. The company's shares closed 4.98 per cent lower in a broader NSE market that ended flat on October 25.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results