The past fiscal year, with the semiconductor shortage, has not been as favorable for Jaguar-Land Rover as it has been for the rest of the automakers. At the end of the fourth quarter —they use the Asian fiscal calendar as they are owned by the Indian giant Tata — the British premium group
has declared an operating loss of £412 million (487 million euros).
This figure is in stark contrast to the operating profit (Ebit) of 2020, when it reached 782 million euros. Turnover was 21,500 million, 7% less than in the previous year. However, for the builder’s finance director,
Adrian Mardelthese data do not provide a balanced vision of the future.
“Despite the chip shortage, we have recorded two consecutive quarters of positive cash flow, demonstrating that cost savings are taking effect,” he said in the presentation of the results. “Our lower breakeven point should put us in a strong position as sales volumes gradually recover.”
Last year, Jaguar-Land Rover introduced its Reimagine programme, which cost £1bn but, in its own words, “raised it at £1.5bn in value”. The goal was to streamline operations, reduce costs, eliminate redundancies and digitize parts of the business. “Inflation represents a growing headwind, but we hope these measures will help mitigate it.”
For the CEO of the group,
Thierry Bollore: “The environment remains difficult in light of the global chip shortage, but I am encouraged by the demand for our products, with a record order book. In addition, we will continue to execute on our Reimagine strategy, promoting a new generation of electric vehicles at Jaguar and a new zero-emission platform for Land Rover.”
In Spain, the dealer network closed positively with an average return of 0.2%. That of the first quarter of the year, which is usually one of the lowest, reached 1%. In Portugal, the results are significantly higher, with an average of 3.8% over the past financial year.
Source: La Verdad
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
