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Benzinga
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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