Carmaker takes £3.1bn write-down on value of investments as demand falls in China

Jaguar Land Rover announced its biggest quarterly loss on Thursday after it was forced to take a £3.1bn write-down on the value of its investments as Chinese demand slumped.

Britain’s largest car manufacturer, which is owned by India’s Tata Group, made a £3.4bn pre-tax loss in the last three months of 2018 as sales fell. It anticipates a loss for the financial year as a whole for the first time in a decade.

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