WHY JAGUAR LAND ROVER IS HAVING TO TIGHTEN ITS BELT
THE RISE OF Jaguar Land Rover (JLR) has been one of the industry’s great success stories in recent years. Its annual sales have more than trebled since Tata Motors took over in 2008 and, particularly on the Land Rover side, it has launched a series of on-trend, desirable and profitable vehicles that have resonated with buyers globally. Yet things can turn quickly. Last week, JLR announced a drop in sales and a £90 million loss for the latest quarter, the second in a row and the catalyst for a £2.5 billion turnaround programme. Costs will be cut, including £1bn slashed from the R&D budget. Jobs are safe, for now. How did JLR end up here? The trade war between the US and China, a country that has spearheaded JLR’s sales…