Jaguar Land Rover in two-week shutdown as sales struggle

Land Rover factory

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Jaguar Land Rover will close its plant in Solihull, England, for two weeks after the company reported a almost 50 percent fall in sales to China as import duties and a trade war with the USA hurt demand.

The scrip, after a weak opening, further tumbled to a low of Rs 170.65.

The company's sales in China declined by 46.2 per cent during September compared to the same month a year ago as ongoing market uncertainty resulting from import duty changes and continued trade tensions held back consumer demand.

Sales of Jaguar brand of vehicles in September were at 19,146 units, an increase of 4.4% over September 2017, the company said in a statement.

Despite this, we expect lower tariffs on United Kingdom imports to be beneficial over the full year, he added.

Britain's biggest carmaker has faced falling diesel sales in recent months and has warned about weakening global demand, announcing job cuts and a three-day week at another facility. "Over the past decade, Jaguar Land Rover workers have worked tirelessly to turn the vehicle maker's fortunes around".

A quarter of Jaguar Land Rover's workers will down tools for two weeks later this month in the latest sign of a sales slowdown for the troubled auto manufacturer.

JLR sales fell 0.8 percent in the United Kingdom and 4.7 percent in Europe, which saw large industry declines of 20.5 percent in the United Kingdom and 31 percent in Germany primarily relating to the timing of new WLTP homologation rules as well as reduced diesel demand, it added.

While sales of new models like the Jaguar I-Pace, the Jaguar E-Pace compact SUV, and the Range Rover Velar offset a decline in older models, JLR sales also took a 6.9 per cent hit in the US.

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