Jaguar Land Rover (JLR) has reported a loss for the first time in three years after sales slowed in China. The UK's biggest car firm, which is owned by India's Tata Motors, blamed the setback on multiple challenges.
Jaguar Land Rover has warned that a bad Brexit deal would hit its profits and threaten its £ 80bn investment plans. The UK's biggest carmaker, owned by India's Tata Motors, said its heart and soul is in the UK.
Jaguar Land Rover (JLR) has said it will move production of its Land Rover Discovery SUV from the West Midlands to Slovakia from next year. The Solihull factory, where the Discovery is manufactured, will be used to build a new generation of Range Rover models, the firm said.
Jaguar Land Rover will cut production of some vehicles amid uncertainty over Brexit and changes to taxes on diesel cars. The company will scale back output of Range Rover Discovery Sport and Evoque models temporarily later this year. Last week, JLR said its global sales hit a record in 2017, but that the UK market was “tough”.
The UK's biggest carmaker, Jaguar Land Rover (JLR), has said sales hit a record high last year. The company reported Jaguar sold 178,601 cars, up 20% on the year before, while Land Rover sales rose 2% to 442,508. JLR said sales had more than tripled since 2009.
Tata group's Jaguar Land Rover established its first overseas manufacturing unit in China this week. The facility is the first joint venture between British auto maker Jaguar Land Rover and Chinese automotive company Chery Automobile Company Ltd.
Tata Motors has reported a big jump in profits thanks to strong sales at its Jaguar Land Rover business. Net profits at India's biggest carmaker tripled to 53.98bn rupees (882m dollars) in the three months to the end of June, far more than analysts had expected. Revenue grew by almost 40%.
Profits at luxury car maker Jaguar Land Rover (JLR) more than doubled in the last three months of 2013. The UK company made profits of £842m, up from £404m for the same quarter in 2012, on revenues of £5.3bn.