JLR suf­fers big drop in sales

Solihull News - - FRONT PAGE - JAMES RODGER james. rodger@ reach­plc. com

JAGUAR Land Rover sales have sharply plum­meted, the car maker has re­vealed.

The sales plunge wor­ry­ingly takes the Mid­lands man­u­fac­turer into a loss for the three months to the end of Septem­ber.

JLR has blamed lower sales in China for the de­cline.

Un­cer­tainty in Europe over diesel and Brexit has also con­trib­uted, the com­pany added.

Jaguar Land Rover says sales plunged 13.2 per cent to 129,887 ve­hi­cles for the three months to Septem­ber 30.

The UK’s largest car maker re­ported rev­enues of £ 5.6 bil­lion and a pre- tax loss of £ 90 mil­lion on the back of lower sales.

JLR is launch­ing a “far­reach­ing” cost- cut­ting pro­gramme to im­prove prof­itabil­ity as a re­sult, it says.

Jaguar Land Rover CEO Dr Ralf Speth said the com­pany is al­ready tak­ing ac­tion to re­verse the losses. It has “launched far- reach­ing pro­grammes to de­liver cost and cash­flow im­prove­ments,” he said.

“To­gether with our on­go­ing prod­uct of­fen­sive and cal­i­brated in­vest­ment plans, these ef­forts will lay the foun­da­tions for longterm sus­tain­able, prof­itable growth.”

Tata Mo­tors chair­man N Chan­drasekaran said: “In JLR, mar­ket con­di­tions, par­tic­u­larly in China, have de­te­ri­o­rated fur­ther.”

He added: “To weather this volatile ex­ter­nal sce­nario, we have launched a com­pre­hen­sive turn­around plan to sig­nif­i­cantly im­prove our free cash flows and prof­itabil­ity.”

JLR has cur­rently stopped pro­duc­tion at its Soli­hull plant with a twoweek shut- down which be­gan on Oc­to­ber 22.

Hun­dreds of agency staff have been stood down dur­ing this pe­riod while some JLR- con­tracted em­ploy­ees are en­joy­ing time off with full pay, it was re­ported.

The Soli­hull plant is the spir­i­tual home of Land Rover, where the famed 4x4 ve­hi­cles have been rolling off the pro­duc­tion lines since 1948.

The ve­hi­cles cur­rently pro­duced there are the Range Rover, Range Rover Sport, Range Rover Ve­lar, Land Rover Dis­cov­ery and Jaguar F- Pace.

Mean­while, Mr Speth an­nounced en­tire in­dus­tries could be wiped out by a hard Brexit.

He is­sued the stern warn­ing dur­ing a visit to Aus­tralia, hav­ing pre­vi­ously warned about the im­pact a bad Brexit deal, or no Brexit deal, would have on the com­pany.

Mr Speth said that some ex­posed in­dus­tries would have “no way to sur­vive a hard Brexit”.

He said: “Every­body can do the maths. It is very open and very trans­par­ent.

“It is not only at Jaguar Land Rover, but it is also an el­e­ment for the sup­plier in­dus­try and ex­port in­dus­try in the UK.”

Jaguar Land Rover’s Lode Lane plant in Soli­hull

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