Feb 1, 2022
Global chip shortage: Jaguar Land Rover loses £9m
Jaguar Land Rover lost £9m in the last three months of 2021 amid the global computer chip shortage. The UK car maker saw its retail sales fall 37.6% compared to a year earlier, as it produced just 80,126 vehicles in the quarter to the end of December. On Friday, industry figures showed that UK car production last year fell to its lowest level since 1965.The Society of Motor Manufacturers and Traders said that just under 860,000 new cars left UK factories in 2021.Production last year was 6.7% lower than in 2020 - and a full 34% below its pre-pandemic level. Car makers around the world have also been impacted by the chip shortage, along with supply chain disruptions, Covid-19 restrictions and rising prices of raw materials. Motor industry giants including Toyota, General Motors, Ford, Nissan, Daimler, BMW and Renault, have all been forced to scale back production in recent months as they struggled to secure enough semiconductors.
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