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Benzinga

Business

Shivani Kumaresan

Jaguar Land Rover Q4 Retail Sales Slump 36% As Chip Shortage Bites

Jaguar Land Rover TTM NYSE Tata Motors Ltd Ukraine

Tata Motors Ltd (NYSE:TTM) reported a 36% year-on-year slump in the fourth quarter retail sales of Jaguar Land Rover.
The retail sales of 79,008 units fell 1.4% quarter-over-quarter.
The Q4 sales results were constrained by the global semiconductor shortage.
The company said the conflict in Ukraine has not materially impacted its wholesale volumes in the quarter.
"The successful New Range Rover launch, as well as the momentum gained from Defender, has resulted in a steadily increasing order bank, now at a record 168,000 units," said Lennard Hoornik, Jaguar Land Rover Chief Commercial Officer.
Price Action: TTM shares are trading higher by 3.08% at $30.12 on the last check Friday.

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