AutoBeta(AutoBeta.net)02/12 Report--

India's Tata Motors posted the biggest loss in Indian corporate history after a loss of $4.06 billion on revenue of $8.06 billion in the third quarter of 2019 (October-December 2018), according to results released on Feb. 7.

The decline in sales, especially in China, where Jaguar Land Rover lost more than $4 billion in a single quarter, Jaguar Land Rover has already implemented a reduction plan to reduce paper losses and losses, and plans to save 2.5 billion pounds over the next two years. but Jaguar Land Rover announced plans to raise $1 billion because it was in urgent need of money to make up for last year's loss.

Bloomberg reported that Jaguar Land Rover needs to raise $1 billion within 14 months to replace maturing bonds and invest heavily in plans for the development of money-burning electric cars. Jaguar Land Rover believes that the conditions for borrowing from the bond market are inappropriate and is looking for alternative financing options.

4.5% of Jaguar Land Rover's bonds, which mature in January 2026, have fallen to a low of 77 cents per euro, equivalent to a yield of 8.9%, according to Bloomberg.

Ben Bogba, head of finance at Jaguar Land Rover, said Jaguar Land Rover could increase accounts receivable financing or turn to other banks to finance, and offer more options, including leasing assets and using export credits. "overall, the current market conditions are not good and our bonds are trading below par value, reflecting our recent financial performance. We have always said that we will keep a close eye on the debt market and issue bonds when market conditions are more favourable. "

As early as the third quarter of last year, Land Rover announced the strategic deployment of "Charge & Accelerate". On January 10 of this year, Jaguar Land Rover announced a new phase of the global strategic deployment of "Charge & Accelerate". Through this strategy, Jaguar Land Rover will achieve 2.5 billion pounds of cost cuts and cash flow improvement in the next 18 months, thereby improving the company's organizational and operational efficiency.

The poor performance of Jaguar Land Rover in China last year, coupled with the impact of adverse factors such as Brexit, led to a decline in sales. China, as its largest single market, suffered the worst decline, with annual sales down 21.6% compared with the same period last year. According to the results of 146399 vehicles in 2017, it can be concluded that Jaguar Land Rover sold 114800 vehicles in China in 2018, while Jaguar Land Rover sold 592708 vehicles worldwide. It's down 4.6% from a year earlier.

Soon after Tata Motors bought the Jaguar Land Rover business from Ford in 2008, Jaguar Land Rover made a profit of more than $1.4 billion per fiscal year in China from 2010 to 2017. but the 2018 fiscal year plummeted, losing more than $4 billion in the last quarter of last year, and now Jaguar Land Rover has no choice but to raise money to get out of trouble.

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