The overall domestic retails for Tata Motors were 65K higher than wholesales
With the lockdown easing up in the country, Tata Motors has let out its net results for Q4. The Indian carmaker has recorded a consolidated net loss of INR 9863.75 Cr. Revenue from operations dropped to INR 62,492.96 Cr as against the better INR 86422.33 Cr of the previous year.
It seems the general economic slowdown, liquidity stress, low freight availability for cargo operators, the transition to BS6 and the ongoing pandemic have all done their parts well in hindering the growth during the year. The FY20 wholesales including the exports have decreased by 35.1%. The medium and heavy CV fell by 49.7%, CV passenger by 28.9%, and SCV and pickups by 24.6%. Domestic passenger vehicles went down by 37.4%. The net revenue dropped by 36.5% to INR 43.9kCr. The company ended the Q4 with liquidity of INR 6.7KCr. The overall domestic sales were higher than the wholesales by 65K.
Jaguar Land Rover, the Tata Motors-owned British brand recorded massive losses of £501m during Q4. JLR had recently announced around 1100 of its jobs to go, following the pandemic crisis. Jaguar Land Rover could sell just 109,869 vehicles globally for the first three months of 2020. This heavy loss has nullified all the glory of the recovery it had had in Q3.
Image Source: Matti Blume | Wikimedia Commons
