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China lockdowns, chip crisis cloud JLR sales outlook for FY23: Tata Motors

On Thursday, Tata Motors stock was down over 5 per cent to Rs 393 on the BSE, compared to the previous day's close

Photo: Bloomberg
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Photo: Bloomberg

Shally Seth Mohile Mumbai
Jaguar Land Rover (JLR) faces headwinds due to lockdowns in China for Covid-19, as the UK subsidiary of Tata Motors battles global supply chain issues caused by the war in Ukraine and difficult macroeconomic conditions. These problems may impact JLR financially in FY23, including the possibility of stopping production in some or all of its plants, Tata Motors said in its annual report.

N Chandrasekaran, chairman of Tata Motors, wrote about the disruptions in a letter to shareholders. “The global shortage of semiconductors had a disproportionately adverse impact on Jaguar Land Rover’s production and sales compared to our competitors. Even though

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First Published: Jun 16 2022 | 4:42 PM IST

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