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Jaguar Land Rover loses £ 9m
Jaguar Land Rover loses £ 9m
Jaguar Land Rover loses £ 9m

International

Jaguar Land Rover loses £ 9m

Jaguar Land Rover (JLR) lost £ 9m ($ 12m) in the last three months of 2021 during a global computer chip shortage.

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The UK car manufacturer dropped by 37.6% compared to last year. Having sold 80,126 cars per quarter by the end of December.

Despite the decline in production, the company saw a revenue of £ 4.7bn, up 22% from the previous quarter.

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Semiconductor products

“While semiconductor products continue to force sales this quarter. We continue to see a strong demand for our products emphasizing. The demand for our vehicles,” Jaguar Land Rover chief executive Thierry Bolloré said in a statement.

However, the company also warned that it expects. The chip deficit to continue throughout the year but expects the goods to improve gradually.

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That helped push India’s JLR parent company Tata Motors to a loss of 15.16bn rupees (£ 150m; $ 203.2m) at the time.

Jaguar Land Rover loses £ 9m
Jaguar Land Rover loses £ 9m

Jaguar Land Rover

So Jaguar Land Rover also said that its order letter has reached a new record. Of approximately 155,000 vehicles, due to the high demand for the new Range Rover.

Chips are essential for modern cars. With many features including touch screen controls. Automatic adjustable brakes, reversible cameras, fuel-saving equipment and airbag delivery systems all dependent on it.
On Friday, industrial figures showed that UK car production last year dropped to the lowest level since 1965.

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The Society of Motor Manufacturers and Traders said less than 860,000 new cars have left the UK industry by 2021.

Last year’s production was 6.7% lower than in 2020 – and 34% full below its pre-epidemic rate.

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Global microchip shortage

SMMT said the figures were bad, mainly due to the global microchip shortage. And the disruption caused by the coronavirus epidemic.

Automobile manufacturers around the world have also been affected by chip shortages. As well as supply disruptions, Covid-19 limitations and rising consumer prices.

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The automotive industry giants including Toyota. General Motors, Ford, Jaguar Land Rover, Nissan, Daimler, BMW and Renault. Have all been forced to postpone production in recent months as they struggle to find enough semiconductors.

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