Ford to cut production at Jaguar by 15,000 units
Jaguar Cars is reportedly planning to reduce the production at the three UK-based plants by about 15,000 units over the remainder of 2004.
Jaguar Cars, a luxury cars manufacturing company owned by the world's second-largest carmaker Ford Motor Company (FMC1.FSE), has witnessed intensified competition in the US markets in the recent past. The US market reportedly accounts for about half of the company's total car sales. A spokesperson for Jaguar Cars said today that the company's overall sales performance had been adversely impacted by the unfavorable currency trends and intensifying competition in the US luxury cars market in the recent past. The company is reportedly planning to reduce the working hours at its three plants in the UK, while none of the manufacturing employees are expected to be laid off.
Auto Spies perspective:
Not only are things bad for Jaguar, the scary thing is that they have under development will save them.
And now that Mercedes-Benz now has a better looking Jaguar than Jaguar (MB CLS500), I would not want to be in Jaguar's shoes.
A better looking, better engineered car (The CLS) combined with a superlative dealer network and experience, does not bode well for the cat.
Tick, Tick, Tick...