The UK’s largest car maker Jaguar Land Rover has reported a pre-tax loss of £90m for the three months to the end of September on the back of lower sales.
Jaguar sales plunged 13.2 per cent to 129,887 vehicles amid escalating trade tensions between the Asian nation and the US.
“In JLR, market conditions, particularly in China, have deteriorated further,” Tata Motors chairman N Chandrasekaran told media, adding: “To weather this volatile external scenario, we have launched a comprehensive turnaround plan to significantly improve our free cash flows and profitability.”
#Q2WithBQ | Jaguar Land Rover's net revenue falls 11%.
— BloombergQuint (@BloombergQuint) October 31, 2018