Jaguar and Land Rover, owned by the Indian company Tata, reported losses that are considered to be the largest in the history of the Indian Tata Group. Data for the last four months of last year, estimated losses amount to 3.8 billion dollars.
The figure exceeds half of the market capitalization of the company, estimated at $ 6.1 billion, and losses are found to be the highest in the history of Indian companies. The financial problems of Tata Motors are complicated.
The reason for this is a sharp decline in sales in the Chinese market, as well as problems with Jaguar Land Rover (JLR) related to Brexit, and a drop in demand for diesel cars in Europe. The Indians said they would take drastic changes that are linked to cost reduction and increased competitiveness of production.