Tata Motors shares rose as much as 5 per cent to hit an intraday high of ₹ 177.90 after the company maintained profitability guidance for its luxury car maker Jaguar Land Rover (JLR). Jaguar Land Rover has not seen any impact so far from issues at UK ports, its parent Tata Motors said on Thursday, even as many countries cut transport ties with Britain due to a fast-spreading new variant of the coronavirus.
“Jaguar Land Rover has comprehensive contingency planning and actions in place to respond to ongoing COVID challenges and disruption. This is subject to constant review,” Tata Motors said in a stock exchange filing.
The Tokyo-listed Honda Motor had to stop output at its British factory earlier this month because of transport-related delays that caused a shortage of parts. It resumed production about a week later.
The COVID-19 pandemic has compounded issues that were already plaguing carmakers ahead of Brexit, with the looming end to the transition period widely expected to cause delays at ports regardless of the outcome of talks on a trade deal.