JLR is also expecting to buy credits totalling 59 million pounds in the U.S. The pool for the 2021 calendar year will cost the company up to 37 million pounds, JLR indicated in an earnings presentation, and can be extended to 2022 if needed. The chip shortage has also forced the company to pool with Tesla to avoid emissions fines in both the European Union and the UK. "Supply issues have impacted our most valuable units," Mardell said. JLR said it has targeted higher-margin vehicles such as the Range Rover and Range Rover Sport as it prioritized cars for production but lacked the chips to build enough. The automaker had a loss of 110 million pounds in the March to June quarter. "Above 61,000 is a really rich mix," he said. Mardell told investors on the revenue call that JLR’s gross revenue per vehicle was 61,000 pounds for the quarter, lower than the same period last year, without giving the higher figure. 30 period, which is counted as the second quarter for JLR’s India-based parent company Tata Motors. "Q2 last year was a really rich mix," he said, referring to the June 30-Sept. Mardell said JLR’s profit in the same quarter last year was an outlier due to China’s swift return to normality after the pandemic. JLR’s losses are in contrast to other premium brands such as Mercedes-Benz and Audi, which have profited from supply constraints by raising prices, reducing marketing costs and focusing on higher-margin models. "It’s the lowest level of dealer inventories we’ve had, going back a long time in the history books," he added. At the same time, dealer inventories are down to 20,000 and those held by the company are at 27,000. JLR has 128,000 vehicles on its order books, Mardell said. "That’s probably the highest number in history of the company," he said. JLR recorded a profit of 65 million pounds in the same period last year.Ĭhief Financial Officer Adrian Mardell told investors Monday that the company had unfulfilled demand of 160,000 vehicles. 30 as chip supply constraints prevented the automaker from fulfilling customer orders. Consulting firm AlixPartners in May forecasted that the crisis will cost the industry US$110 billion (RM461 billion) in lost sales, forcing many car manufacturers to overhaul their strategy with electronic components.Jaguar Land Rover swung to a loss of 302 million pounds ($413 million) in the quarter ending Sept. The shortage has thus far caused lower output numbers from car factories around the world, with millions of vehicles slashed from the production line. A factory fire at a major manufacturer in Japan, frigid weather in the US and an extended drought in Taiwan exacerbated the crisis. Other automakers such as Nissan, Hyundai and Volkswagen also warned of shrinking inventories due to the supply crisis, which began last December when demand for personal computing devices skyrocketed amid persistent pandemic lockdowns. “The broader underlying structural capacity issues will only be resolved as supplier investment in new capacities comes online over the next 12 to 18 months, and so we expect some level of shortages will continue through to the end of the year and beyond.” “The chip shortage is presently very dynamic and difficult to forecast,” JLR said in a statement that was filed to Indian stock exchanges by parent Tata Motors on Tuesday. Jaguar Land Rover is among the latest few automakers warning of a worsening semiconductor supply shortage, adding that deliveries in the second quarter will be 50% worse than initially thought, Automotive News Europe reports.
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