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…)

Recent Comments

  • tankinbeans: The GLA reminds me of Wallace’s fancy-lady from Wallace and Gromit. Mercedes are starting to get...
  • Freddie: No one has accused Trump of being articulate. I wish he would have said something like: Unrealistic fuel...
  • 2manycars: Leftist snowflakes want to micro-manage all aspects of our lives. That alone is reason enough to vote...
  • trackratmk1: When you consider that inflation has far outpaced any real gains in consumer purchasing power over the...
  • tankinbeans: This would put my co-worker’s nose out of joint were it to happen to her. She’s already...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Matthew Guy
  • Timothy Cain
  • Adam Tonge
  • Bozi Tatarevic
  • Chris Tonn
  • Corey Lewis
  • Mark Baruth
  • Ronnie Schreiber