Jaguar Land Rover-owner Tata sinks into the red
There were fresh signs Monday (January 31) that the chip shortage is still biting at automakers.
Jaguar Land Rover-owner Tata Motors sank to a bigger-than-expected loss over the three months to the end of December.
The deficit hit around $203 million, compared to a profit this time last year.
Tata says the silicon drought is now easing, but will continue to some degree through the rest of 2022.
It's engaging with chipmakers directly in a bid to secure stable supplies.
Car makers have been caught short amid booming demand for consumer electronics and health-crisis related disruption to supply chains.
Tata also warned that rising inflation is a real worry, driving its costs ever higher.
However, the Indian firm says demand remains strong at the maker of Range Rover SUVs.
