JLR to cut 4,500 jobs globally amid declining sales in China, Brexit concerns
Tata Motors-owned Jaguar Land Rover (JLR) on Thursday reported a 4.6 per cent fall in global vehicle sales to 5,92,708 units in 2018 hit by tough market conditions in China.
Sales of Jaguar brand of vehicles during the year stood at 1,80,833 units, a growth of 1.2 per cent over 2017 sales, the company said in a statement.
However, Land Rover range sales declined 6.9 per cent in 2018 to 4,11,875 units, it added.
“The economic slowdown in China along with ongoing trade tensions are continuing to influence consumer confidence. The impact is being felt across several industries globally,” JLR Chief Commercial Officer Felix Brautigam said.
Despite this, the company continues to work closely with retailers and is taking necessary actions to balance production with demand in order to rejuvenate sales as part of turnaround plan for the business, he added.
For December 2018, the total sales for JLR were at 52,160 units, a decline of 6.4 per cent as compared with December 2017, the company added.
The company, which is the United Kingdom’s largest automotive manufacturer, said sales during the month were impacted primarily due to ongoing challenging market conditions in China.
“JLR continues to work closely with retailers in China to respond to the present market conditions,” it said.
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