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Tata Motors-owned Jaguar Land Rover (JLR), which lost $630 million before tax in the three months ended March 31, will continue to face “further uncertainty” in this fiscal year, said N Chandrasekaran, Chairman, Tata Sons, in JLR’s 2019-20 annual report.
It will prioritise simplification, synergies and scale within the Tata Motors family, including working with partners when it makes sense to do so, he said.
“In the year ahead, we must seize every opportunity that arises in these areas,” he added.
This fiscal year will be marked by further uncertainty, reflecting the varying pace of economic recovery in different regions, said Chandrasekaran. “This will require a continued focus on financial discipline and further efficiencies, building on the considerable success of Jaguar Land Rover’s Charge+ and Accelerate programmes. I am confident that these measures will enable the return to long-term sustainable and profitable growth,” he said.
“I am equally confident that Jaguar Land Rover will play a central part in the automotive industry’s shift to an increasingly autonomous, connected, electrified and shared (ACES) mobility world,” added Chandrasekaran.
Challenges facing JLR
Some of the ongoing industry challenges facing JLR include preparing for Britain’s withdrawal from the European single market at the end of the Brexit transition period, albeit with little clarity yet on the shape of future trading arrangements, he said.
“With Tata Group’s active and constant support, Jaguar Land Rover has the resilience and capabilities to emerge successfully from the upheavals of 2019-20. The company’s unique capabilities – especially in high-performance and go-anywhere luxury vehicles – are recognised already by customers around the world. Those capabilities will drive future demand. At the same time, Tata Group recognises and values Jaguar Land Rover’s future potential highly. That is why this company is central to our global automotive presence – a presence that we intend to develop for years to come,” said Chandrasekaran.
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