Jaguar Land Rover owner Tata Motors reported a wider-than-estimated first-quarter loss as a global microchip shortage dragged down sales at the UK luxury unit.
Tata Motors reported a loss of 44.5 billion rupees ($598 million) in the three months ended June 30, compared to an 84.4-billion-rupee shortfall a year earlier, the company said. Analysts had forecast a 21-billion-rupee loss, according to the average of estimates compiled by Bloomberg.
Jaguar Land Rover reported a pretax loss of 110 million pounds ($152 million) on revenue of 4.97 billion pounds ($6.9 million). The division’s sales in China jumped 14 percent.