JLR owner Tata has been badly hit by falling demand for luxury cars in China
Shares in Tata Motors sank to their lowest level in eight years after problems at its Jaguar Land Rover unit resulted in a massive write-down and a 270bn rupee (£2.9bn) quarterly loss for the car maker – thought to be the largest in Indian corporate history.
Jaguar Land Rover (JLR) has struggled in recent months as falling demand from China and a shift away from diesel have led to a slump in sales and heavy losses. Its debt levels are also rising and its high manufacturing presence in the UK leaves it exposed to a disorderly Brexit.
As a result Tata Motors revealed it took a $3.9bn (£3bn) write-down on its investment in JLR in the last quarter of 2018. It bought the company from Ford in 2008…