Jaguar Land Rover Bleeds $4.4 Billion In 4th Quarter Over Trade Tensions

Jaguar Land Rover has posted a 3.4 billion pound ($4.4 billion) quarterly loss after it took a big write-down in the value of its cars and plants.

It is the third straight quarterly loss for the British automaker, which has been hit hard by U.S.-China trade tensions, low demand for diesel cars in Europe and Brexit worries. Last month JLR said it would cut about 10 percent of its 42,500-person workforce, mostly in its home market.

JLR parent Tata Motors expects costs from the voluntary redundancy program to be recognized in the quarter ending in March.
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qwertyfla1 - 2/8/2019 12:30:18 PM

+2 Boost

Only a matter of time until production gets moved from the UK to India or some other cheaper labor shithole jurisdiction and wouldn't be surprised if they use Brexit as the final excuse to do so. Regardless, Jags days may sadly be numbered if they don't right the ship PDQ.

carloslassiter - 2/8/2019 3:45:41 PM

-1 Boost

For the last six months all I've read here was how their new electric AMC Gremlin was a "Tesla killer".

MDarringer - 2/8/2019 6:25:32 PM

+1 Boost

You are correct. Tesla's quality and reliability is far superior and that's saying something given how abysmal is Tesla's quality and reliability.

skytop - 2/9/2019 12:24:17 AM

+2 Boost

IF you purchase a Jaguar or a Land Rover, you are required to also purchase an extra car to use during the expected extended Jag and Rover repair periods.

SanJoseDriver - 2/10/2019 10:03:23 PM

+1 Boost

Ouch, $4.4 billion... last quarter Tesla made, what was it, a profit?