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Jaguar Land Rover BrExit Car Crash, Steep Losses and New Year Job Cuts

Companies / Auto Sector Dec 24, 2018 - 07:30 PM GMT

By: Nadeem_Walayat

Companies

The news out of Jaguar land Rover seems to go from bad to worse as it's latest results saw profits of £953mln for the period March to September for 2017 wiped out for the same period in 2018, replaced with a loss of £354mln resulting in the loss of over 1 thousand jobs and many more being put on a three day week. With rumours of plans to shed as many as 5000 jobs in the new year out of a work force of approx 38,000 that is unlikely to bring any Christmas cheer to the JLR work force as the loss making car manufacturer attempts to cut costs.


JLR faces a perfect storm of BrExit chaos in it's supply and sales chain coupled with continuing criticisms of its quality build that is unlikely to improve as JLR seeks to cut costs by offshoring production to eastern europe and then hit with the trend away from diesel vehicles has put the car manufacturer in deep distress.

Meanwhile owners Tata continue to put up a brave front by issuing statements of continuing to support the beleaguered car maker that they bought in 2008 for £1.15 billion.

Here's a detailed 1 year review of JLR's flag ship Discovery Sports model that illustrates some of the reasons why things could be going wrong for JLR.

Land Rover Discovery Sport 1 Year Owner Driver Mega Review of What's Good and Bad

One of the issues why build quality does not live up to customer expectations is because the manufacturer is offering the market too many models. Instead should seek to concentrate on improving the quality of production of it's most popular models. Instead JLR's decision to move production to eastern europe is only going to make matters worse. Because no one wants to pay premium brand prices for piece of junk manufactured in eastern europe! Especially given the fact that BrExit beckons and thus British customers are more likely to favour home produced vehicles than those made in the EU. So I for one won't be buying an EU manufactured Land Rover, and likewise neither will many thousand of other British LR car buyers.

Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2018 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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