The Indian car company Tata Motors has again booked a substantial quarterly loss due to the disappointing performance of its subsidiary Jaguar Land Rover (JLR). This British luxury car maker has been struggling for some time with strong headwinds due to brexitz worries, the trade war and a declining demand for diesel cars in Europe.
Below the line, the loss of Tata Motors amounted to 37 billion rupees, approximately 481 million euros. That is considerably more than the 19 billion rupee the company reported as a loss in the same period last year. In addition, the turnover of Tata Motors, which sells numerous cars that are not found in Europe in its home market in India, fell by nearly 8 percent to just under 615 billion rupees.
Analysts had not seen the seriously disappointing figures coming. According to the Bloomberg news agency, they generally assumed a loss of more than 20 billion rupees for the past quarter.