/images/ppid_59c68470-image-175989759341196351.webp)
What is the story about?
Shares of Tata Motors Ltd. are declined on Wednesday, October 8, after its luxury car manufacturing unit Jaguar Land Rover (JLR) released its sales update for the second quarter.
The company's September quarter volumes were lower than expected due to the recent cyberattack. On August 31, JLR disclosed it had been hit by a cybersecurity breach and, a couple of days later, announced the temporary shutdown of its system.
The company's wholesale declined by 24.2% during the quarter, while retail sales were down 17.1% compared to the previous year.
The wind-down of legacy Jaguar models and incremental US tariffs have also had an impact on JLR's volumes.
JLR's volumes in the second quarter declined in all markets:.
Meanwhile, brokerage firm Nuvama expects JLR's second quarter revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) to decline 22% and 52%, respectively.
The company's management on Tuesday has reiterated that its focus is on restarting JLR manufacturing operations. The engine production plant begins operations on
Wednesday, October 8,
and will be followed by car manufacturing at Nitra and Solilull,it added.
Shares of Tata Motors were down nealry 1% at ₹691.25 apiece around 9.20 am on Wednesday. The stock has gained 17.4% in the last six months.
Also Read: Ixigo-parent shares in focus after unnamed investor intends to buy up to 16% stake
The company's September quarter volumes were lower than expected due to the recent cyberattack. On August 31, JLR disclosed it had been hit by a cybersecurity breach and, a couple of days later, announced the temporary shutdown of its system.
The company's wholesale declined by 24.2% during the quarter, while retail sales were down 17.1% compared to the previous year.
The wind-down of legacy Jaguar models and incremental US tariffs have also had an impact on JLR's volumes.
JLR's volumes in the second quarter declined in all markets:.
| Region | Decline (YoY) |
| UK | -32.3% |
| North America | -9% |
| Europe | -12.1% |
| China | -22.5% |
| MENA | -15.8% |
| Overseas | -4.1% |
Meanwhile, brokerage firm Nuvama expects JLR's second quarter revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) to decline 22% and 52%, respectively.
The company's management on Tuesday has reiterated that its focus is on restarting JLR manufacturing operations. The engine production plant begins operations on
Shares of Tata Motors were down nealry 1% at ₹691.25 apiece around 9.20 am on Wednesday. The stock has gained 17.4% in the last six months.
Also Read: Ixigo-parent shares in focus after unnamed investor intends to buy up to 16% stake
Do you find this article useful?
/images/ppid_59c68470-image-175989253258942868.webp)
/images/ppid_59c68470-image-17598225356402759.webp)
/images/ppid_59c68470-image-175982510736237743.webp)
/images/ppid_59c68470-image-175983503672058418.webp)
