Jaguar Land Rover has announced annual losses of more than £450m due to the impact on the ongoing semiconductor shortage and the resulting slow down in supply of stock, according to the Coventry Telegraph
The manufacturer has a huge forward order book and simply cannot manufacturer and deliver the vehicles at the rate demand grows.
The report added that the manufacturer recorded a £662m profit, before exceptional items, in the 12 months to March 31, 2021.
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