Sharp profit downgrades for Tata Motors on weak Jaguar Land Rover outlook

Domestic operations also hit by BS-VI transition impacting CV volumes

Tata Motors shed 7.4 per cent on Monday in a weak market on worries of sluggish Jaguar Land Rover (JLR) sales in China and volume decline in the commercial vehicles portfolio in India. JLR reported an 85 per cent year-on-year fall in China retail sales in February because of the impact of the coronavirus epidemic.

JLR had reported volume growth of 34 per cent in the December quarter and average sales in the six months prior to the outbreak were upwards of 25 per cent. While retail sales and production are expected to be ramped up gradually, brokerages believe sales will