The global chip shortage that has emerged in recent years continues to affect all companies that manufacture on technology. The pandemic and quarantine processes, especially with Covid-19, caused major disruptions in chip supplies. While it is foreseen that the supply chain, which affects the whole world, will not end soon, many companies continue to suffer from this crisis.
Jaguar Land Rover has lost $12 million in the last three months
Jaguar Land Rover (JLR) has joined the caravan of those hit by the global chip crisis. The company had great difficulties in production throughout 2021. Having difficulty in catching the supply-demand balance, the company produced a little more than 80,000 cars in the last quarter of 2021. After these sales, there was a decrease of 37.6 percent compared to the same time last year.
The company lost $12 million in the last quarter compared to last year. However, JLR was relatively profitable compared to the third quarter of 2021. The company, which experienced 22 percent growth between the two quarters, earned $6.3 billion. However, the company, which has not yet recovered from this crisis, is looking for ways out in order to meet the demand. Thierry Bolloré, CEO of JLR, said in a statement:
As semiconductor supplies continue to curb sales this quarter, we continue to see very strong demand for our products underlining the desirability of our vehicles.
As the global chip crisis continues, according to the CEO of JLR, the company will feel the impact of this crisis this year as well. So much so that the crisis caused JLR’s Indian parent company Tata Motors to lose $203.2 million during the period. The crisis environment has also hit all automobile manufacturers. According to the research conducted in England in the past days, automobile production in the country saw its lowest level since 1965 last year. Many automotive companies such as Toyota, General Motors, Ford, Nissan, Daimler, BMW and Renault have had to cut automobile production in recent months in order to use their chips sparingly after the crisis.
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