Jaguar Land Rover, part of the Passenger Vehicles business of Tata Motors Ltd . has cut its EBIT margin outlook for the full year down to between 0% to 2% from 5% to 7% earlier. The unit made its announcement during the September quarter results on Friday, November 14.

It also expects free cash outflow to increase to £2.2 billion - £2.5 billion from close to zero. The investment spend for JLR is likely to remain at £18 billion over the next five years starting financial year 2024.

For Jaguar Land Rover, the loss before tax and exceptional items during the quarter stood at £485 million. Revenue also declined 24.3% from the same quarter last year to £24.9 billion. EBITDA margin stood at a negative 1.6%, while EBIT margin stood at a negative 8.6%, down 1,370 basis points from last year.

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