		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p>Indian car maker Tata Motors posted its biggest quarterly loss, hurt by an impairment charge for its Jaguar Land Rover business.</p>
<p>Troubles at the Jaguar Land Rover (JLR) unit, which has been hit hard by US-China trade tensions, low demand for diesel cars in Europe and Brexit worries, had tipped Tata Motors into its first loss in three years, for the quarter ended June 2018.</p>
<p>Tata Motors has announced plans to turn around JLR but the slide in the unit’s sales has continued for now.</p>
<p>The company took a non-cash charge of 278.38 billion rupees (€3.43bn) to cover the impairment at JLR in the three months to the end of December.</p>
<p>Changes in market conditions, especially in China, technology disruptions and increased cost of debt resulted in the charge.</p>
<p>It said that its performance “continued to be impacted by challenging market conditions in China”.</p>
<p>“We continue to work closely with Chinese retailers to respond to current market conditions with a ‘pull’-based approach to vehicle sales,” JLR chief executive Ralf Speth said.</p>
<p>JLR said last month it would cut 10% of its workforce, mostly in its home market, as the carmaker which is the biggest car producer in Britain responded to lower Chinese demand and a slump in European diesel sales.</p>
<p>Tata Motors’ loss came at 269.93bn rupees for the quarter, compared with a profit of 11.99bn rupees in the year-ago period.</p>
<p>Revenue rose 5.8% to 762.65bn rupees.</p>
<p>Tata Motors has been facing a decline in sales in India as well.</p>
<p> ;</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-68ed196c8a1ae">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-68ed196c8a1ae',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
