Nov 1, 2021
Jaguar Land Rover losses deepen after chip shortages
Losses at Jaguar Land Rover deepened in the three months to September after chip shortages cost the Range Rover owner tens of thousands of lost vehicles and hit its efforts to lower emissions from its fleet. Revenues fell 11 per cent to £3.9bn, after sales of every model other than the Land Rover Defender dropped. The shortages also played havoc with JLR's plans to increase sales of electric and plug-in hybrid models, which it needs to sell to meet emissions rules in Europe, the US and China. The group said that chip shortages "Disproportionately impacted production of electrified products". Just 3 per cent of sales were its pure battery Jaguar I-Pace, while sales of plug-in hybrid cars that can drive using battery power were 8 per cent.
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