
Britain's largest auto manufacturer, which is owned by India's Tata Group, made a £3.4bn pre-tax loss in the last three months of 2018 as sales fell.
The surprise non-cash write-off has been attributed to slowing sales in China, technology disruptions linked to a shift towards eco-friendly hybrid and electric vehicles, and also the rising cost of debt. Revenues fell by £100m to £6.2bn as vehicle sales fell to 144,602 for the quarter, nearly 10,000 less than the previous year. Daimler AG and BMW AG reduced profit forecasts past year amid pressures from the US-China trade war that's hit auto demand, while Hyundai Motor Co. said last month its letting workers go as it reviews production plans in the worlds biggest market.
While Tata has announced plans to turn around JLR, the slide in the unit's sales has continued for now with retail sales in China falling almost 50 percent during the quarter ending December 31.
Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 percent.
But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in nearly three decades in 2018.
Millions of Girls at Risk of Genital Mutilation
According to United Nations estimates, at least 200 million girls and women have undergone some form of genital mutilation. The Sustainable Development Goals call for the elimination of female genital mutilation by 2030.
Given the muted demand for its vehicles JLR has concluded that the carrying value of capitalised investments should be adjusted down, resulting in a non-cash £3.1bn pre-tax exceptional charge and an overall pre-tax loss of £3.4 billion for the quarter. USA sales rose 20 per cent and 18 per cent in the UK.
One problem, according to the presentation, is JLR's dealer network.
JLR, Britain's biggest automaker, is also facing disruption due to uncertainty over a Brexit deal and has chose to halt production for a couple of weeks in April. "From the end of first week of April, we have two and half weeks to three weeks of production shutdown that will happen, which will prepare us for the worst case scenario (regarding Brexit)", Balaji said.
In the three-month period, sales increased for the new Jaguar E-PACE and the electric Jaguar I-PACE as well as the refreshed Range Rover and Range Rover Sport, while the slowdown in China accounted largely for lower sales of other models. CNBC-TV18 Polls had predicted a profit of Rs 541 crore for the quarter under review. Stand-alone revenue grew 1.85% to ₹16,477 crore.
Owner: Grizzlies will retire Marc Gasol's jersey in future
The team values him as a mentor for rookie Jaren Jackson Jr., and Conley was not eager to be dealt, a separate ESPN report added. The Memphis Grizzlies have reportedly decided on a trade featuring All-Star big man Marc Gasol .
‘You’re deaf’: Maduro says European Union is not listening to Venezuela
But Maduro is still in control of the military and is using it as leverage to maintain power. Embassy in Colombia, equivalent to less than 0.02 percent of the population.
Chris Brown and Offset fight on Insta
It's safe to say that Chris didn't take this too well, telling Offset to "fight me" in a huge rant; "F*CK YOU LIL BOY". After deleting the comment, Chris reposted it on Instagram Stories and added more fuel.
Bugatti Reveals Special Edition Of The Chiron Sport On Its 110th Anniversary
You'll also find the flag on the 12 o'clock mark of the steering wheel that combines matte carbon-fibre with a blue leather cover. The rear end is dominated by the diffuser and bumper in glossy steel blue carbon with the contrasting matte black exhaust system.
Apple threatens to BAN iOS apps that secretly record users' iPhone screens
It gives the companies to look at how the user is interacting with the app to improve the app. Using Glassbox's session reply technology, app makers can see every tap and swipe you make.
Future Samsung smartphones may go camera-less, here's how
According to a newly surfaced patent, Samsung is exploring the idea of having an electronic pen device that has an optical zoom. This would be the smartphone here and the S Pen would confirm that the image or picture has been taken by the camera.
Kim Nuclear Summit Gets a Sequel
But with the February 27-28 summit in Vietnam looming large, North Korea did not hold a military parade this year. In a separate tweet shortly after announcing the summit's host city, Trump again played up this aspect.
Is Maurizio Sarri right to call Manchester City Europe's best team?
We were there, focused, physically strong. "At the end of the season, I just want to be able to say we gave everything". I think the squad is definitely there, in terms of the depth they have. "They need to be consistent year after year".
A Florida politician has resigned following allegations of licking men's faces!
Oakley had a 'habit of licking men that either she was attracted to or thought that she had authority over, ' Crawford said. The complaint lead to disgrace for Nancy Oakley, the former commissioner from Pinellas County's city of Madeira Beach.
England’s Maro Itoje could be out for four weeks with knee injury
Some have wondered if Ireland , who have never before got past the World Cup quarterfinals, had peaked ... soon, others questioned they cope the of huge they themselves under. "I a signed-up of low-key, Schmidt every and qualify by that goes behind doors in-house is different that out PR-perfect conferences public consumption".
School bus driver wounded in shooting after crash in Minneapolis, police say
Shocked motorists flooded 911 with calls that a bus driver had been shot along a major Minneapolis freeway at rush hour Tuesday. The gunman gets out of his sedan and walks round to the bus driver before firing on a snowy highway in Minneapolis .
Pope Francis Admits Priests, Bishops Have Sexually Abused Nuns
She said the issue was abusive power relationships, with clerics controlling everything from nuns' vocations to their salaries. The abuse was "still going on, because it's not something that just goes away like that", he added.
Why aren't Democrats calling on Justin Fairfax to resign?
Complicating the matter are scandals now confronting two people in line to take Virginia's governorship if Northam resigns . Barbara Favola of Virginia saying, "I have to take a breath and think about this". "There's just too much flying around".
Google boosts password security with new Chrome extension
On Tuesday, Google published a Chrome plugin that will report if the login info you use in say, Yahoo, has been stolen. In other words, there's no real downside to installing the extension and helping protect your online accounts.
MLB Rumors: League Changing Name Of ‘Disabled List’ Before 2019 Season
Rosters held only 21 players, which, when injuries mounted, forced some players back into action before they were fully healthy. During recent negotiations with the union, Major League Baseball asked to reestablish the 15-day version of the list.