Jaguar Land Rover has posted its first profit for two years after bumper sales of its newest Range Rover.
Indian carmaker Tata Motors beat analysts' expectations to post a profit for the first time in two years as improving semiconductor chip supplies and rising demand helped its luxury car unit Jaguar Land Rover (JLR) turn profitable. Like others in the sector, Tata Motors and JLR have been struggling to navigate supply chain disruptions and shortages of critical semiconductor components since the onset of the coronavirus pandemic. The situation has improved in India where carmakers are benefiting from strong demand, easing commodity costs and a slew of price hikes to make up for price inflation.
Jaguar Land Rover has warned that its electric vehicle (EV) push could be under threat if it is slapped with fines for failing to meet tough new government targets.