March 6, 2020 / 8:35 AM / a month ago

BRIEF-Tata Motors Says Reduction In China Sales From Coronavirus Estimated To Reduce JLR FY EBIT Margin By About 1%

March 6 (Reuters) - Tata Motors Ltd:

* TATA MOTORS LTD SAYS CORONAVIRUS HAS SIGNIFICANTLY IMPACTED JLR CHINA SALES WITH FEBRUARY RETAILS DOWN AROUND 85% VERSUS PRIOR YEAR

* TATA MOTORS LTD SAYS TATA MOTORS EXPECTS TO END THE QUARTER WITH POSITIVE FREE CASH FLOW.

* TATA MOTORS - REDUCTION IN CHINA SALES RESULTING FROM CORONAVIRUS PRESENTLY ESTIMATED TO REDUCE JAGUAR LAND ROVER’S FY EBIT MARGIN BY ABOUT 1%

* TATA MOTORS LTD SAYS TIMELINE FOR COMPLETE REBALANCING OF SUPPLY AND DEMAND IS DEPENDENT ON FURTHER DEVELOPMENTS IN THE COMING 4-6 WEEKS

* TATA MOTORS - “SUPPLIERS IN CHINA ARE RESUMING OPERATIONS BUT REMAIN BELOW FULL CAPACITY”

* TATA MOTORS - OVER 95% OF JAGUAR LAND ROVER’S TIER 1 & TIER 2 SUPPLIERS IN CHINA ARE NOW OPEN BUT AT REDUCED CAPACITY

* TATA MOTORS - JAGUAR LAND ROVER’S SUPPLY CHAIN IS PRIMARILY BASED IN EUROPE & UK, WITH RELATIVELY SMALL PERCENT OF DIRECT PARTS FROM CHINA Source text for Eikon: Further company coverage:

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