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Jaguar Land Rover losses deepen after chip shortages

Carmaker reveals it paid Tesla £37m to pool carbon emissions and stay within UK and European limits

Losses at Jaguar Land Rover deepened in the three months to September after chip shortages cost the Range Rover owner tens of thousands of lost vehicles and hit its efforts to lower emissions from its fleet.

The group, owned by Tata Motors, posted a pre-tax loss of £302m for the quarter, compared with a profit of £65m in the same period a year earlier, and deeper than the £110m loss it reported in the quarter to June.

Revenues fell 11 per cent to £3.9bn, after sales of every model other than the Land Rover Defender dropped. Every big region saw fewer sales, with the UK market down by half.

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