Tata Motors on Friday said the company expects to see positive cash flows for the rest of the year for its luxury car unit Jaguar and Land Rover (JLR) business.
JLR at this point in time, like any other auto original equipment manufacturer (OEM) has a series of external challenges that the company is trying to deal with," said P Balaji, chief financial officer, Tata Motors.
"I think it is a pretty good, long list of issues that we have. What we are trying to look at it and say that the net impact of all this is the demand is likely to remain muted for the near-term to the medium-term, that is what we are reading,” he said.
The company's objective is to create value and sustainable profitable growth and that is what JLR is all about and what they are focused on, Balaji added.
Earlier this week, Tata Motors announced a turnaround plan for its luxury car unit Jaguar Land Rover which has been hit hard by trade tensions between China and the US, low demand for diesel cars in Europe and worries over Brexit.
The auto major on Wednesday reported a consolidated loss of Rs 1,048 crore in the three months ended September 30, 2018, on weak JLR sales.