Jaguar Land Rover fight to survive in current Chinese economy

11 January, 2019, 08:26 | Author: Lucy Floyd
  • Jaguar Land Rover is cutting thousands more jobs in a bid to save billions

Ralf Speth, JLR's chief executive, said the company was dealing with "multiple geopolitical and regulatory disruptions, as well as technology challenges". But sales in China have fallen almost 50% in recent months as cautious Chinese consumers have been holding back on big ticket purchases amid global trade tensions.

Brexit has made the future of the UK's auto manufacturing industry uncertain, with Toyota and Vauxhall among those to warn of negative impacts in the event of a hard Brexit.

Hundreds of Wolverhampton JLR workers were sent home on full pay in the run-up to Christmas, as production was slowed down in the wake of falling sales, while around 200 jobs were axed in Solihull. In the past year alone, the company's global product portfolio has expanded to include the all-electric Jaguar I- PACE, the Range Rover and Range Rover Sport with PHEV derivatives and, most recently, the new Range Rover Evoque, also with next-generation hybrid technology.

The company's move follows plans announced a year ago to reduce white-collar jobs across the company's global business.

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Bloomberg reported on the job cuts Thursday.

"We will invest in the vehicles, services, segments and markets that best support a long-term, sustainably profitable business, creating value for all our stakeholders and delivering emotive vehicles to our customers". The European Union has set lower limits for vehicle carbon dioxide emissions from 2021 that are pushing carmakers to include more electric vehicles in their future sales mix.

"Britain's auto workers have been caught in the crosshairs of the government's botched handling of Brexit, mounting economic uncertainty and ministers' demonisation of diesel, which along with the threat of a no deal Brexit, is damaging consumer confidence", Unite national officer Des Quinn said.

"This is not about making the business today more efficient but completely redesigning it", Ford's European president, Steve Armstrong, told the Financial Times.

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It came as Ford warned that more than 7,000 engine and gearbox manufacturing and development jobs were under threat after the American manufacturer said it was shaking up its European operations.

The company said it plans to drop unprofitable models, on top of already announced plans to close an automatic transmission plant in Bordeaux, combine administrative headquarters in Britain and end production of its C-Max vans in Saarlouis, Germany.

"We expect the immediate impact on Ford's United Kingdom operations to be limited".

Jaguar Land Rover said earlier that its retail sales fell 4.6 per cent in 2018, citing uncertainty surrounding Brexit, the trade-war driven Chinese slump that lowered its sales in the country by 22 per cent, and consumer misgivings around the diesel engines that power much of its Land Rover lineup.

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The United States has been pressing for North Korea to get rid of its nuclear weapons before any easing of economic pressure. South Korea's foreign ministry said it was aware of Kim's planned visit and hopes Kim's latest visit and summit with Mr.

Most will be in office roles as the company wants to simplify its management structure. It is also working to ramp up its electric auto production.

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