JLR forecasts 2022 bounce back

British firm posts another quarterly loss due to restricted sales but sees way out of chip crisis

- JAMES ATTWOOD

Jaguar Land Rover has posted a £302 million loss from July to September with the ongoing global semiconductor chip shortage resulting in tens of thousands of lost sales – but it has forecasted a recovery by this time next year.

The British firm, which is owned by Indian conglomerate Tata, sold 92,700 cars in the second financial quarter of 2021, compared with 114,000 in the same period last year. That was reflected in reduced revenues of £3.9 billion.