By on August 3, 2020

Jaguar Land Rover has increased its savings target for the year to $3.3 billion (£2.5 billion) following a $540 million (£413 million) pre-tax loss for the quarter ending in June. Losses are hardly uncommon within an industry shaken by the pandemic, but JLR went into this year already confronting an uphill battle.

In 2019, the company was deep in the midst of a restructuring plan aiming at $2.5 billion in life-sustaining savings. Unfortunately, the move required the elimination of thousands of positions as it tried to imagine the effects of Brexit and contend with falling sales in its largest markets. That includes China, which the firm assumed would offer continued growth in the months leading up to coronavirus’ big debut and increasing political tensions between the Communist Party of China and United Kingdom. (Read More…)

By on July 30, 2020

Already in the midst of a comprehensive restructuring plan with partners Nissan and Mitsubishi, Renault announced a staggering 7.29 billion euro ($8.6 billion) loss on Thursday. That tally encapsulates the first half of the year and marks a new record for the brand, even if it’s not the kind one normally celebrates.

“Although the situation is unprecedented, it is not final. Together with all of the Group’s management teams and employees, we are fully dedicated to correcting the situation through a strict discipline that will go beyond reducing our fixed costs,” new CEO Luca de Meo said in response to the dismal financial report. “Preparing for the future also means building our development strategy, and we are actively working on this. I have every confidence in the Group’s ability to recover.” (Read More…)

Recent Comments

  • FreedMike: So, basically we have a mini-Accord with a much cleaner front end treatment here. Not a bad thing.
  • Corey Lewis: I’m not big on the little pug nose there, I think it’d look better smoother. BUT this is an...
  • Corey Lewis: Honda clearly does not care about the ILX. I imagine they’ll just kill it off, or...
  • Corey Lewis: Honda had awesome gauges from circa 1990 to 2000. Just clean and efficient.
  • Corey Lewis: This. If I have to go outside it’s going to limit the usability of this in a place like Ohio....

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Mark Baruth
  • Ronnie Schreiber