China drags down Jaguar Land Rover’s revenue
02/08/2018
Although the company’s retail sales for the quarter rose 5.9% to 145,510 vehicles, it sold 5% fewer wholesale vehicles than in the same period of last year.
It said the figure reflects lower wholesales in China, attributing this to customers holding back on purchasing vehicles before July 1, when China reduced import duties on new cars from 25% to 10%.
As a result, Jaguar Land Rover reported a pre-tax loss for the quarter of £264 million.
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