It is no longer a secret that the corona crisis is rather widespread in the car market. As a result, one brand is hit harder than the other. Jaguar Land Rover is one of the brands that received the hardest blows, according to the new quarterly figures of parent company Tata.
After a poor fourth quarter of the previous financial year, Tata Motors is not opening the new financial year much better. The first quarter, which closed on June 30, is recorded at a loss of Rs 84.38 billion. That is converted € 950 million. A year earlier, when red numbers were already achieved, it was still just under half of this loss. This is evident from reports from the news agency Reuters.
Tata Motors is in severe weather because Covid-19 has a lot of influence in markets where they are important to Tata. For example, sales of Jaguar Land Rover group models fell by as much as 42 percent in the first quarter of this fiscal year. It was previously announced that JLR should cut jobs for this reason.