Hitting the skids: Jaguar Land Rover posted a loss of £302m for the quarter to September
Jaguar Land Rover was unable to sell as a result of the global shortage in microchips.
The car maker posted a loss of £302million for the quarter to September – compared to a profit of £65million in the same period a year earlier.
Turnover slid 11pc to £3.9billion as the company, which is based in Coventry but owned by India’s Tata Motors, saw the number of cars sold slide in every major region as it dealt with huge manufacturing backlogs. It sold 92,000 vehicles in this period, compared to 114,000 for the same three months in 2020.
After the pandemic, factories that produce electronic components were forced from their plants for months to make way for chip shortages, car companies around the world have been plagued by chip shortages.
Jaguar Land Rover stated that sales of all models except the Land Rover Defender were down during the quarter.
The semiconductor shortages ‘disproportionately’ affected its electric and hybrid cars, which is a key area the company is trying to focus on.
The group also said it would pay £37million to electric car giant Tesla to pool carbon emissions.