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Jaguar Land Rover to cut 4,000 jobs amid weak sales and China pressure
JLR said the restructuring follows falling sales across its main markets, including a drop in China deliveries to 62,400 last fiscal year from 146,000 in 2017.
Jaguar Land Rover is cutting 4,000 jobs as it confronts worsening business conditions, including declining sales in key regions and the fallout from a cyber-attack that disrupted production last year, according to BBC Business. The company is also spending billions to reinvent itself for an electric future, even as it faces intensified competition from rapidly expanding Chinese brands. BBC Business notes that China is a central concern, where rising domestic rivals, improved development pace, and an overall slowdown have made it harder for European automakers to compete. BBC Business reports that JLRs China sales fell from a peak of 146,000 cars in 2017 to 62,400 in the last financial year. The outlet also links margin pressure to stronger competition plus a new luxury car tax, contributing to a sharp decline in regional revenue. The report adds that Chinese challengers are taking share abroad, citing examples such as BYD and Chery. It says Cherys Jaecoo 7, nicknamed the "Temu Range Rover," was the third best-selling car in the UK over the first half of the year.