Tata Motors announced on November 2 that the company expects positive cash flow for its Jaguar and Land Rover (JLR) luxury car unit for the remainder of the year.
JLR, like any other original equipment manufacturer (OEM), has a number of external challenges that the company is struggling with, "said P Balaji, CFO of Tata Motors.
"I think it's a pretty good, long list of problems we have, what we're trying to test here and say that the net effect of all this is that demand for the medium-term medium will remain subdued in the short term, term, that's what we read, "he said.
Also read: Tata Motors Standalone achieved net sales of Rs 17,758.69 in September 2018, an increase of 32.53% in QoQ
The goal of the company is to create value and to grow sustainably profitable. That's what JLR is all about, and that's what the company is focusing on, Balaji added.
Earlier this week, Tata Motors announced a turnaround plan for its luxury Jaguar Land Rover car that was hit hard by China-US trade tensions, low demand for diesel cars in Europe, and concerns over Brexit.
The automotive group reported a consolidated loss of Rs 1,048 billion on October 31 for the three months ended September 30, 2018 due to weak JLR revenue.