Jaguar Land Rover (JLR) is now focused on delivering more sustainable growth and profits rather than chasing volume, according to chief commercial officer Felix Bräutigam. Falling sales in China and the impact of the likes of Brexit and the drop in demand for diesel caused JLR to announce a £2.5 billion turnaround plan a year ago. But at the end of the 2018/19 fiscal year, that had turned into a £3.6bn loss (including a £3.1bn write-down in assets, centred on diesel) so dramatic had the JLR decline been. And the positive progress is continuing, with the firm posting a £156 million pre-tax profit in the most recent financial quarter. JLR CEO Ralf Speth said at the recent Frankfurt motor show that the Charge and Accelerate plan is on track and “going very well”. That process meant temporary factory shutdowns in response to falling demand and cutting 4500 jobs. When asked about sales targets for the reborn Land Rover Defender, Bräutigam said more broadly that volume is not something JLR now judges itself on. Not just business profits, but added value for the brand as well as the company.” JLR was hit particularly hard by falling sales in China. Sales of premium rivals BMW, Mercedes-Benz and Audi rose in China in 2018, with JLR’s drop put down to quality issues and an unruly dealer network. “I feel we’re gaining traction and getting better in sync to the market, but it’s still declining [as a whole] and facing headwinds on a macro level. An all-electric Jaguar XJ will join the I-Pace next year, with a sibling model for the Range Rover line-up following hot on the XJ’s heels as Land Rover’s first electric car.
Komentar
Posting Komentar