Is This Jaguar Land Rover s Only Hope Of Survival? CarBuzz

Is This Jaguar Land Rover s Only Hope Of Survival? CarBuzz

Is This Jaguar Land Rover' s Only Hope Of Survival CarBuzz News Features New Cars Used Cars Sell My Car Shopping Tools Car Reviews Car Finder Compare Cars Best Cars Car Dealerships Used Car Reviews Car Advice Home News Is This Jaguar Land Rover' s Only Hope Of Survival

Is This Jaguar Land Rover' s Only Hope Of Survival

Apr. 26, 2019 6:01 PM ET by Jay Traugott / 3 Comments America comes to the rescue. Jaguar Land Rover is in financial trouble. The UK-based automaker lost nearly $4 billion last year due to falling sales in the world's largest automotive market, China. The reason for this massive sales drop was, mainly, quality control issues at its China production facility. Too many corners were cut. Sales in Europe, including the UK, also fell. All told, global deliveries fell 4.6 percent. However, there was one bright spot: the United States of America. Bloomberg reports JLR's 2018 sales in the US increased by 7.3 percent, which translates to nearly 123,000 vehicles. The automaker needs to hit these numbers again this year. "If we can keep our volumes around where we were last year, I would be more than happy," said Joe Eberhardt, head of JLR's North America business. "We focus on the things we can control." Land Rover Land Rover Land Rover Turns out the US is the company's single biggest market and combined with the launch of the all-new Range Rover Evoque and continued high demand for its other premium compact SUV, the Jaguar E-Pace, there's hope for a good 2019. This September, the all-new Land Rover Defender will make its big debut as well and it's expected to be met with high demand, partially due to its iconic status. It's set to go on sale in the US sometime in 2020. JLR previously announced a dramatic cost savings plan to the tune of nearly $3.2 billion. Some 4,500 jobs worldwide were cut as part of that. Eberhardt added that JLR North America also made a significant contribution to cost-cutting but provided no details. Jaguar Land Rover JLR's parent company, Tata, is still deciding on a larger plan of action that will require raising some $1 billion within the next 14 months in order to provide JLR the money it needs to invest in, among other things, its electric vehicle program. Eberhardt emphasized that "there is always room for further growth and the growth will have to come from new product." Right, but new product requires huge investments and JLR's parent company needs to find the money for that. Fortunately, JLR can rely on the US market for solid sales. It needs every bit of help it can get these days. Jaguar Jaguar

Join The Discussion

Show Comments (3)

Gallery

10 Photos Tags: #Jaguar News #Land Rover News #Electric Vehicles #Luxury #Pricing

Related Cars

Jaguar E-Pace Jaguar I-Pace Land Rover Range Rover Evoque Land Rover Range Rover Velar LoginSign Up Home News Features Car Reviews Car Advice 2021 CarBuzz Awards New Cars Used Cars Future Cars Compare Cars Sell My Car Car Dealerships Buy Here Pay Here Used Car Reviews Popular Tags Cars # Video # TOP # Spy Shots # Reveal # Rumor # Auto Show # Supercar # Tuning # Car Culture # Industry News # Motorsport Acura Alfa Romeo Aston Martin Audi Bentley BMW Bollinger Bugatti Buick Cadillac Caterham Chevrolet Chrysler Dodge Ferrari Fiat Fisker Ford Genesis GMC Hennessey Honda Hyundai Infiniti Jaguar Jeep Karma Kia Koenigsegg Lamborghini Land Rover Lexus Lincoln Lordstown Lotus Lucid Motors Maserati Mazda McLaren Mercedes-Benz Mini Mitsubishi Nissan Pagani Polestar Porsche Ram Rimac Rivian Rolls-Royce Spyker Subaru Tesla Toyota Volkswagen Volvo By Make Acura Alfa Romeo Aston Martin Audi Bentley BMW Bollinger Bugatti Buick Cadillac Caterham Chevrolet Chrysler Dodge Ferrari Fiat Fisker Ford Genesis GMC Hennessey Honda Hyundai Infiniti Jaguar Jeep Karma Kia Koenigsegg Lamborghini Land Rover Lexus Lincoln Lordstown Lotus Lucid Motors Maserati Mazda McLaren Mercedes-Benz Mini Mitsubishi Nissan Pagani Polestar Porsche Ram Rimac Rivian Rolls-Royce Spyker Subaru Tesla Toyota Volkswagen Volvo By Car Type SUVs Crossovers Sedans Coupes Trucks Sports Cars Wagons Vans Hatchbacks Convertibles Small Cars Luxury Cars Electric Cars Hybrid Cars Future Cars By Price Up to $15K $15K - $25K $25K - $35K $35K - $45K $45K - $55K $55K - $75K $75K - $100K $100K - $200K $200K - $300K Above $300K Back To Top
Share:
0 comments

Comments (0)

Leave a Comment

Minimum 10 characters required

* All fields are required. Comments are moderated before appearing.

No comments yet. Be the first to comment!