Price action: TTM shares traded lower by 0.41% at $19.55 on the last check Thursday.Retail sales also fell by 18.4 per cent to 92,710. The British car manufacturer delivered 64,032 vehicles to dealerships between July and September, a 12.8 per cent decrease year-on-year. The crisis also impacted Microsoft Corp MSFT and Sony Group Corp SONY, the manufacturers of the Xbox and PlayStation games consoles, along with the phone manufacturer Samsung Electronics Co Ltd SSNLF and cryptocurrency miners. Jaguar Land Rover has posted a significant loss for the third quarter due to lower sales caused by the global semiconductor shortage.Renault expected the crisis to extend to the third quarter exceeding its previous expectation of the second quarter.Texas winter storms and the fire at Renesas Electronics Corp’s RNECY chip plant in Japan further intensified the situation. LONDON Output at two of Jaguar Land Rovers (JLR) British car factories will be temporarily halted from Monday, due to COVID-19. Volkswagen AG VWAGY and Ford Motor Co F were forced to cut down on production due to the demand explosion of electronic equipment during the pandemic. JLR becomes the latest victim of the semiconductor crisis.JLR manufactured the Range Rover Evoque and Land Rover Discovery Sport models at Halewood and Jaguar XE, XF, and F-Type cars at Castle Bromwich.German parts maker Robert Bosch GmbH expected the situation to last for several months. French manufacturer Renault SA RNLSY estimated the crisis to extend beyond the quarter and did not disclose its annual financial guidance. Jaguar Land Rover says it will make a profit in the second half of this financial year as the chip crisis eases and it starts shipping the new Range Rover, shown Jaguar Land Rover swung to a loss.According to Bloomberg, the shutdown will begin on April 26, as JLR joined the growing list of carmakers opting for production holidays due to the global semiconductor chip crisis. The factories accounted for 6,000 employees.Castle Bromwich and Halewood factories for a limited period, the Guardian reports. Tata Motors Ltd’s TTM Jaguar Land Rover Automotive Plc (JLR) will temporarily shut down production at the U.K.This was mitigated partially by further prioritisation of production to the highest margin products, while new agreements with semiconductor suppliers are expected to enable sales improvements in the second half of the fiscal year," the company said. "This improvement was lower than planned, primarily due to a lower than expected supply of specialised chips from one supplier, which could not be readily re-sourced in the quarter. The wholesales of JLR stood at 75,307 units in the July-September period (excluding the company's China joint venture). However, they declined by 7% in the UK and 10% in Europe. JLR's retail sales were 38% higher in China, 27% higher in North America and 14% higher in overseas markets as against the first quarter.
The company retailed 88,121 units in the three-month period to September 30. The global chip shortage is continuing to wreak havoc at some of the worlds biggest carmakers including Jaguar Land Rover, Mercedes, and Renault. Although the company is still facing supply-side constraints due to semiconductor shortage, it is expecting better performance in the second half of the current fiscal. By Varun Singh: Jaguar Land Rover (JLR) on Friday reported a rise of 12% in retails and 4% in wholesales for Q2 FY23 in comparison to the previous quarter. Jaguar Land Rover suspends output due to chip shortage Britain's biggest carmaker to suspend output at two factories because of global semiconductor shortage.
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