Jaguar Land Rover has lost £9 million in the past three months party due to the global chip shortage caused by the pandemic.
Sales from the retailer dropped by over 37% during the final quarter compared to the prior year, equating to only just over 80,000 vehicles.
However, despite the falling sales, the revenues were up by 22% compared to the prior quarter.
The struggle has been real for both car companies and technology manufacturers, with many gadgets being unavailable, such as the PlayStation 5 and Xbox.
The Chief Executive said in a statement, “Whilst semiconductor supplies have continued to constrain sales this quarter, we continue to see very strong demand for our products underlining the desirability of our vehicles,”
All manufacturers are cautiously optimistic though for 2022, as chip shortages are expected to reduce as we overcome the international pandemic.
This will not help JLR in the short term though, with over 150,000 new Range Rovers on order.
Modern vehicles require the chips for many processes in the vehicle and it is difficult to just swap them out for a unit that is available.
Last year there was a case where Jaguar Land Rover were shipping parts in suitcases to get them on the production lines.
