Coronavirus fear: Tata Motors cuts JLR full year Ebit margin guidance by 1%

The coronavirus outbreak is set to weigh on Jaguar Land Rover’s (JLR’s) full year performance, Tata Motor’s said on Friday. 

The pandemic, which claimed more than 3,000 lives globally, continues to spread at a rapid pace in several countries.

This has prompted the Mumbai-based firm to lower full year earnings before interest and tax (Ebit) margins by 100 basis points.

“Recognising that the present situation is highly uncertain and could change, the reduction in China sales is estimated to reduce JLR’s full year EBIT margin by about 1 per cent. However, the free cash flow in the fourth quarter is