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Tata Motors-owned JLR expects 50% sales slump amidst global chip shortage

The world is facing a global famine of semiconductor chips and its ripples are being felt by companies across sectors. The auto industry, in particular, has been dealt a severe blow. Companies such as Tata Motors-owned JLR, Ford, General Motors, and Volkswagen have had to suspend their production lines; JLR has hinted at a sales slump of at least 50%. As a result, the global auto industry is expecting a revenue loss to the tune of $110 billion.

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