Mumbai5 minutes ago
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Jaguar Land Rover sells about 25% of cars in the US.
Tata Motors has denied reports of stopping the shipment of Jaguar Land Rover cars to the US. The company said that the shipment is being considered to stop for some time, but this is not the final decision. Tata Motors is making a strategy to reduce the impact of the new tariff.
Earlier on April 5, it was reported that Tata Motors’ premium car company Jaguar Land Rover (JLR) is stopping cars shipment from Britain for a month. JLR has taken this decision to avoid the Trump government’s 25% tariff policy.
In fact, from April 3, the US imposed 25% tariff on imported cars and light trucks. Tata Motors shares have fallen by 15% since the announcement of 25% tariff on 27 March. Apart from this, the US automobile company General Motors has recorded a decline of 3% and stytantis by 15% decline.
Jaguar Land Rover sold 4 lakh cars worldwide in FY 2024.
Car prices may rise in America
According to reports, the average price of new cars in the US is already around US $ 49,000 (Rs 42 lakh). After the new tariff is implemented, their weight can be poured on customers. Due to this, the price of imported cars can be increased by $ 12,500 (Rs 10 lakh).
According to the news agency PTI, this tariff may increase the cost of vehicle manufacturers and a decline in sales. American car companies import many of their auto parts from other countries.
Tata Motors profit reduced by 22%
Tata Motors had a net profit of Rs 5,451 crore in the third quarter of FY 2024-25. It has decreased by 22% on an annual basis. The company’s profit in the same quarter of a year ago was Rs 7,025 crore.
The company’s revenue was Rs 11.36 lakh crore due to the operation in the October-December quarter. In the same quarter of a year ago, Tata Motors generated a revenue of Rs 11.06 lakh crore. It has increased 2.71% on an annual basis.
