Japanese car giant Honda is expected to announce the shutdown of its plant in south west England in 2022, putting 3,500 jobs at risk, media reports said on Monday. The car manufacturer is to announce the closure of its Swindon plant on Tuesday, according to Sky News, but still keep its European headquarters in nearby Bracknell.
Jaguar Land Rover booked a loss for the last three months of 2018 as sales collapsed in China. The company booked a £3.1bn reduction in the value of its plants and other investments leading to a £3.4bn quarterly loss, its biggest to date.
Jaguar Land Rover is to extend its annual April shutdown in car production because of uncertainties around Brexit. The UK's biggest carmaker will be idle for an extra week because of fears of disruption at its car and engine plants at Liverpool, Birmingham and Wolverhampton.
Jaguar Land Rover (JLR) will announce on Thursday it is cutting up to 5,000 jobs from its 40,000 strong UK workforce. Management, marketing and administrative roles are expected to be hardest hit, but some production staff may also be affected.
Protracted Brexit talks are weighing on the recovery prospects of Jaguar Land Rover, according to its Indian owner. The focus of Tata Motors, which bought JLR in 2008 from Ford, is to ensure the automaker remains financially strong in the face of the challenges, Tata Sons Chairman Natarajan Chandrasekaran said in an interview over the weekend. Tata Sons is the parent of Tata Motors.
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.
British luxury car company Jaguar Land Rover has announced plans to build two of its models in China. It will be the first full manufacturing plant for the company outside the UK. Although the plans still have to be given final approval by the Chinese government, Jaguar Land Rover has already found a site for the plant, just north of Shanghai.
Jaguar Land Rover, the luxury car unit of India's Tata Motors has followed Germany's BMW AG in suspending plans to build a new plant in Brazil as tax changes and slowing growth have given premium auto makers cold feet about investing in a potentially lucrative market.
Jaguar Land Rover expects China to become its largest market in the next few years, according to Bob Grace, president of Jaguar Land Rover China, who said that the company aims to sell over 40,000 vehicles in China this year, which will be a significant growth of 54% over last year's 26,000 units.