Interest rate hikes, global inflationary pressures may impact demand: JLR
Hike in interest rates by central banks globally is expected to enhance financing costs for consumers and could impact future demand, Jaguar Land Rover said in a report. The UK-based marquee brand, which aims to be a full stack battery electric player in the next two years, also pointed out that high rate of inflation exacerbated by the Ukraine conflict, elevated energy prices and post Covid supply disruption as other negative factors. "Increasing interest rates in 2022 (including the UK, USand Europe) will flow through into financing costs for consumers and could impact future demand," the automaker said in its Interim Report for the third quarter. The company is working to offset inflationary trends and other issues like high energy prices through profitability improvement actions, it said. The automaker, which is owned by Tata Motors, said that although constraints continue, chip supply is expected to continue to gradually improve. "Partnership agreements put in place with key06-02-2023
