Jaguar Land Rover (JLR) owner Tata Motors is concerned by semiconductor shortages and Brexit-related supply disruptions as its luxury car sales recover, although the Indian automaker said on Friday these had not yet hit production.
Tata Motors had three straight quarters of losses as the Covid-19 crisis dented sales, exacerbating uncertainties over Britain’s European Union exit, weak demand and rising costs, but has bounced back to clock a profit in its third quarter.
“The issue is completely on the supply side rather than demand,” PB Balaji, chief financial officer, said after Tata Motors posted a 67.2% rise in profit for the last quarter of 2020, with improved sales at JLR in key markets like China.
“Despite all this we aim to consolidate the gains we have had and finish the year strong,” Balaji said, adding that he expects sales in China to strengthen further.
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