Jaguar Land Rover made a big loss in Q3
12/02/2019
The group sold 144,602 vehicles during this time, a drop of 6.4% compared to the same period of 2017. It cited “continued challenging market conditions” in China as the main reason for this drop off. This was partially offset by growth in North America and the UK.
The company made a quarterly loss of £3.4 billion, its largest ever. This was due to a £3.1 billion reduction in the value of its plants and other investments.
“This is a difficult time for the industry, but we remain focused on ensuring sustainable and profitable growth, and making targeted investments, that will secure our business in the future,” said Dr Ralf Speth, Jaguar Land Rover chief executive.
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