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Jaguar Land Rover recorded a loss for the last three months of 2018, as sales collapsed in China.
The company recorded a £ 3.1 billion reduction in the value of its plants and other investments, resulting in a quarterly loss of £ 3.4 billion, the largest ever.
Car manufacturers are facing stricter regulation and the demand for cleaner models.
Sales for the quarter amounted to £ 6.2 billion, compared to £ 6.3 billion a year earlier. It sold 144,602 vehicles, down 154,447.
Ralf Speth, President and CEO of Jaguar, said: "Jaguar Land Rover has announced strong third quarter sales in the UK and North America, but our overall performance continued to be affected by the conditions. difficult market in China. "
Excluding the impairment, which affects its balance sheet but has no impact on cash, the company recorded a loss of £ 273 million.
Much of the company's model range is currently powered by diesel, while diesel sales in Europe are down.
Jaguar Land Rover, which belongs to the Indian company Tata Motors, has launched an extensive restructuring program in order to prepare for the future and increase its profitability.
He has already announced his intention to remove thousands of jobs.
He has now accepted that the value of his existing investments – such as factories, equipment and model design – is significantly lower than previously thought, said BBC correspondent Theo Leggett..
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