Feb 7, 2019
Jaguar Land Rover takes £3.1bn hit as demand stalls
Jaguar Land Rover has written down the value of its cars and plants by £3.1bn after some of its newest models saw steep falls in demand. Demand for Jaguar saloons have been far weaker than the company anticipated, and several of its Range Rover models compete for the same customers, leading to cannibalisation. Sales of both the Jaguar XJ flagship saloon and the smaller Jaguar XF halved compared to the same quarter a year earlier. Many of its most recent models, such as the Range Rover Velar and the Jaguar F Pace, both sports utility vehicles, saw sales fall by a third, in part because they are heavily reliant on diesel buyers. Of JLR's 13 models across its two brands, only four saw sales grow - the electric I Pace and the Jaguar E Pace, both made in Austria by a contract manufacturer, and the Range Rover and Range Rover Sport vehicles.
Make a complaint about Jaguar or Land Rover by viewing their customer service contacts.